Financial Advocates Investment Management Purchases 371 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Financial Advocates Investment Management grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 3rd quarter, according to its most recent 13F filing 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 quarter. Financial Advocates Investment Management’s holdings in PepsiCo were worth $1,761,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% in 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 period. Summit Securities Group LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have 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 note on Friday, July 19th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 0.1 %

NASDAQ PEP opened at $166.08 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. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The firm has a market capitalization of $227.86 billion, a PE ratio of 24.50, a P/E/G ratio of 3.10 and a beta of 0.53. The stock’s 50 day moving average is $173.24 and its 200 day moving average is $172.20.

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

PepsiCo 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.