Portside Wealth Group LLC Buys 293 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Portside Wealth Group LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 9,481 shares of the company’s stock after acquiring an additional 293 shares during the quarter. Portside Wealth Group LLC’s holdings in PepsiCo were worth $1,612,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised its position in shares of 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 acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. 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 note on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. Finally, TD Cowen cut 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.4 %

PEP stock opened at $164.00 on Friday. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-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. The firm has a market cap of $225.01 billion, a P/E ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53. The company’s 50-day simple moving average is $172.50 and its 200-day simple moving average is $172.11.

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