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

Portside Wealth Group LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,481 shares of the company’s stock after acquiring an additional 293 shares during the period. Portside Wealth Group LLC’s holdings in PepsiCo were worth $1,612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Western Pacific Wealth Management LP raised its stake in shares of PepsiCo by 34.7% during the third quarter. Western Pacific Wealth Management LP now owns 1,554 shares of the company’s stock valued at $264,000 after acquiring an additional 400 shares during the last quarter. Hara Capital LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $68,000. Global Strategic Investment Solutions LLC increased its stake in shares of PepsiCo by 5.4% during the third quarter. Global Strategic Investment Solutions LLC now owns 2,003 shares of the company’s stock valued at $341,000 after buying an additional 102 shares during the period. JB Capital LLC lifted its stake in PepsiCo by 4.5% in the third quarter. JB Capital LLC now owns 60,330 shares of the company’s stock worth $10,259,000 after acquiring an additional 2,599 shares during the period. Finally, Keudell Morrison Wealth Management boosted its holdings in PepsiCo by 30.7% in the third quarter. Keudell Morrison Wealth Management now owns 3,884 shares of the company’s stock valued at $660,000 after acquiring an additional 913 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.4 %

PEP opened at $164.00 on Friday. The firm has a market cap of $225.01 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a 50-day moving average of $172.50 and a 200 day moving average of $172.11. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays reduced their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $183.92.

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.