Reston Wealth Management LLC Buys Shares of 514 PepsiCo, Inc. (NASDAQ:PEP)

Reston Wealth Management LLC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 514 shares of the company’s stock, valued at approximately $87,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. M&G Plc raised its holdings in PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares during the period. OLD Second National Bank of Aurora raised its holdings in PepsiCo by 32.7% during the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC raised its holdings in PepsiCo by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after acquiring an additional 2,976 shares during the period. Viking Fund Management LLC raised its holdings in PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after acquiring an additional 5,000 shares during the period. Finally, GAMMA Investing LLC raised its holdings in PepsiCo by 50.0% during the second quarter. GAMMA Investing LLC now owns 20,448 shares of the company’s stock valued at $3,372,000 after acquiring an additional 6,813 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $166.08 on Friday. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $227.86 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.10 and a beta of 0.53. The firm’s fifty day moving average is $173.24 and its two-hundred day moving average is $172.20.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. Royal Bank of Canada cut their price objective 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 target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average 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.