Patriot Financial Group Insurance Agency LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Patriot Financial Group Insurance Agency LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,926 shares of the company’s stock after purchasing an additional 2,711 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in PepsiCo were worth $2,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PEP. Valued Wealth Advisors LLC increased its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of 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 acquiring an additional 59 shares during the last quarter. POM Investment Strategies LLC grew its holdings in 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 purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.8 %

Shares of PEP stock traded down $1.41 on Monday, hitting $170.38. The stock had a trading volume of 1,145,587 shares, compared to its average volume of 5,448,973. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company’s 50 day moving average price is $173.86 and its 200-day moving average price is $172.28. The firm has a market capitalization of $234.24 billion, a P/E ratio of 24.80, a P/E/G ratio of 3.25 and a beta of 0.53. 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 issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

PEP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.