Flossbach Von Storch SE Purchases 1,043,635 Shares of PepsiCo, Inc. $PEP

Flossbach Von Storch SE grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,637,469 shares of the company’s stock after acquiring an additional 1,043,635 shares during the period. PepsiCo accounts for approximately 3.6% of Flossbach Von Storch SE’s investment portfolio, making the stock its 9th biggest holding. Flossbach Von Storch SE’s holdings in PepsiCo were worth $876,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Nova Wealth Management Inc. bought a new stake in PepsiCo in the first quarter worth approximately $25,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC increased its stake in shares of 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 acquiring an additional 122 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of PepsiCo during the 2nd quarter valued at $45,000. Finally, Investment Research & Advisory Group Inc. boosted its stake in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.0%

PEP stock opened at $142.95 on Friday. The firm 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 company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $166.88. The stock’s 50 day moving average is $145.31 and its 200-day moving average is $139.73.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PEP shares. Piper Sandler upped their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 10th. HSBC boosted their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Barclays boosted their price objective on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Finally, DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $156.95.

About PepsiCo

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.