CWA Asset Management Group LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

CWA Asset Management Group LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,041 shares of the company’s stock, valued at approximately $2,558,000.

A number of other hedge funds have also made changes to their positions in PEP. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% in the 3rd 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 acquired a new stake in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PEP shares. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.7 %

PEP opened at $165.11 on Friday. The firm’s 50-day simple moving average is $172.19 and its 200-day simple moving average is $171.97. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The firm has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for 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%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 EPS. Equities research 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.