Clarity Financial LLC Has $618,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Clarity Financial LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,637 shares of the company’s stock after acquiring an additional 307 shares during the period. Clarity Financial LLC’s holdings in PepsiCo were worth $618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth about $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in 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 bought a new position in PepsiCo in the 2nd quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $166.34 on Tuesday. The business has a 50 day moving average of $172.84 and a 200 day moving average of $172.20. The company has a market capitalization of $228.22 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released 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 company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

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.