PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,611 shares of the company’s stock after acquiring an additional 72 shares during the period. Balboa Wealth Partners’ holdings in PepsiCo were worth $444,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. M&G Plc grew its holdings in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings in PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares in the last quarter. Fiduciary Family Office LLC grew its holdings in PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares in the last quarter. GFS Advisors LLC grew its holdings in PepsiCo by 13,209.4% during the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after purchasing an additional 71,727 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in PepsiCo by 4.6% during the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after purchasing an additional 16,523 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on PEP shares. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” 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 on the stock in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 4.0 %

Shares of NASDAQ:PEP opened at $158.62 on Friday. The company has a market cap of $217.63 billion, a PE ratio of 23.70, a P/E/G ratio of 3.07 and a beta of 0.53. The company’s 50-day moving average price is $171.19 and its 200 day moving average price is $171.68. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. 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 (NASDAQ:PEP) last issued its quarterly earnings data 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. The firm had revenue of $23.32 billion for 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%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.