Balboa Wealth Partners Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Balboa Wealth Partners grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,611 shares of the company’s stock after acquiring an additional 72 shares during the period. Balboa Wealth Partners’ holdings in PepsiCo were worth $444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc lifted its stake in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the period. Fiduciary Family Office LLC raised its position in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,727 shares during the last quarter. GFS Advisors LLC raised its position in PepsiCo by 13,209.4% during the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after acquiring an additional 71,727 shares during the last quarter. Finally, Empower Advisory Group LLC raised its position in PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after acquiring an additional 16,523 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PEP. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP opened at $158.62 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $217.63 billion, a P/E ratio of 23.70, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm’s 50 day moving average is $171.19 and its two-hundred day moving average is $171.68.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm posted $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.