Axxcess Wealth Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Axxcess Wealth Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,753 shares of the company’s stock after selling 6,874 shares during the period. Axxcess Wealth Management LLC’s holdings in PepsiCo were worth $12,032,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% in the 3rd 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 bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during 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 acquired a new position in PepsiCo during the 2nd quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $165.11 on Friday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a market cap of $226.53 billion, a PE ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. The firm has a 50-day simple moving average of $172.19 and a two-hundred day simple moving average of $171.97. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays cut their price target 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. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.