Drive Wealth Management LLC Has $733,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Drive Wealth Management LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,309 shares of the company’s stock after selling 402 shares during the quarter. Drive Wealth Management LLC’s holdings in PepsiCo were worth $733,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the 3rd 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 last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter valued at about $28,000. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 4.0 %

Shares of PEP opened at $158.62 on Monday. The business’s 50 day simple moving average is $170.82 and its 200-day simple moving average is $171.50. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. 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, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

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.