RIA Advisory Group LLC Acquires New Shares in PepsiCo, Inc. (NASDAQ:PEP)

RIA Advisory Group LLC acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, Holdings Channel reports. The institutional investor acquired 6,432 shares of the company’s stock, valued at approximately $1,094,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in shares of PepsiCo by 5.1% in the 1st quarter. Acadian Asset Management LLC now owns 760,925 shares of the company’s stock worth $133,147,000 after acquiring an additional 36,709 shares in the last quarter. Patten & Patten Inc. TN lifted its holdings in PepsiCo by 7.7% during the 1st quarter. Patten & Patten Inc. TN now owns 60,720 shares of the company’s stock worth $10,627,000 after buying an additional 4,320 shares in the last quarter. Chiron Capital Management LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at $401,000. Edgestream Partners L.P. raised its position in shares of PepsiCo by 20.9% during the 1st quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock valued at $806,000 after acquiring an additional 796 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of PepsiCo by 1.6% during the 1st quarter. Jacobi Capital Management LLC now owns 54,222 shares of the company’s stock valued at $9,489,000 after acquiring an additional 873 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEP. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lowered 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 report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

PEP stock traded down $6.53 during mid-day trading on Friday, hitting $158.62. 9,108,948 shares of the company were exchanged, compared to its average volume of 5,466,003. The business has a 50 day simple moving average of $170.82 and a 200-day simple moving average of $171.56. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $217.63 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the business posted $2.25 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

About PepsiCo

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.