PBMares Wealth Management LLC Acquires 201 Shares of PepsiCo, Inc. (NASDAQ:PEP)

PBMares Wealth Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,906 shares of the company’s stock after acquiring an additional 201 shares during the quarter. PBMares Wealth Management LLC’s holdings in PepsiCo were worth $1,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Meixler Investment Management Ltd. grew its position in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its position in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of 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 purchasing an additional 59 shares during the period. Bank of Stockton boosted its stake in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC boosted its stake in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP traded down $1.24 on Tuesday, hitting $168.60. The stock had a trading volume of 913,978 shares, compared to its average volume of 5,446,609. The stock has a market cap of $231.79 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 3.20 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. The business’s 50-day simple moving average is $173.78 and its two-hundred day simple moving average is $172.29. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its 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 analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $2.25 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEP. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.