CWA Asset Management Group LLC Invests $2.56 Million in PepsiCo, Inc. (NASDAQ:PEP)

CWA Asset Management Group LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, Holdings Channel reports. The fund purchased 15,041 shares of the company’s stock, valued at approximately $2,558,000.

Other hedge funds also recently modified their holdings of the company. Atomi Financial Group Inc. increased its holdings in PepsiCo by 28.7% during the first quarter. Atomi Financial Group Inc. now owns 5,308 shares of the company’s stock worth $929,000 after buying an additional 1,183 shares during the last quarter. Choate Investment Advisors increased its stake in shares of PepsiCo by 0.5% during the 1st quarter. Choate Investment Advisors now owns 143,929 shares of the company’s stock worth $25,189,000 after purchasing an additional 751 shares during the last quarter. NorthRock Partners LLC raised its holdings in shares of PepsiCo by 17.6% in the 1st quarter. NorthRock Partners LLC now owns 13,928 shares of the company’s stock valued at $2,438,000 after purchasing an additional 2,083 shares during the period. Meeder Asset Management Inc. grew its holdings in PepsiCo by 7.1% during the first quarter. Meeder Asset Management Inc. now owns 3,483 shares of the company’s stock worth $610,000 after purchasing an additional 232 shares during the period. Finally, Capital Square LLC acquired a new position in PepsiCo during the first quarter worth approximately $206,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.7 %

PEP opened at $165.11 on Friday. The stock has a market capitalization of $226.53 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. 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 company has a 50-day simple moving average of $172.19 and a 200 day simple moving average of $171.97.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley lowered shares of 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. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.