ZEGA Investments LLC Makes New Investment in PepsiCo, Inc. $PEP

ZEGA Investments LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 8,177 shares of the company’s stock, valued at approximately $1,080,000.

Other hedge funds have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo in the first quarter worth $25,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo during the 2nd quarter worth $29,000. Frazier Financial Advisors LLC increased its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the period. Finally, RMG Wealth Management LLC purchased a new stake in shares of PepsiCo in the second quarter worth about $45,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PEP shares. Royal Bank Of Canada dropped their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Trading Up 1.0%

PEP opened at $142.95 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $166.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market capitalization of $195.46 billion, a PE ratio of 27.18, a P/E/G ratio of 3.56 and a beta of 0.45. The firm’s fifty day moving average price is $145.31 and its 200 day moving average price is $139.75.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.