Financial Advocates Investment Management Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Financial Advocates Investment Management boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,356 shares of the company’s stock after purchasing an additional 371 shares during the period. Financial Advocates Investment Management’s holdings in PepsiCo were worth $1,761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC lifted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PEP shares. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $166.08 on Friday. The firm has a market capitalization of $227.86 billion, a P/E ratio of 24.50, a P/E/G ratio of 3.10 and a beta of 0.53. 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 stock’s 50-day simple moving average is $173.24 and its two-hundred day simple moving average is $172.20. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its 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. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.