Cassaday & Co Wealth Management LLC Acquires 481 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cassaday & Co Wealth Management LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 75,115 shares of the company’s stock after buying an additional 481 shares during the quarter. PepsiCo comprises approximately 0.4% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Cassaday & Co Wealth Management LLC’s holdings in PepsiCo were worth $12,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during 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 period. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $158.62 on Monday. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week 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 capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The stock has a fifty day moving average of $170.82 and a 200 day moving average of $171.50.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, research analysts expect 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.