Edge Financial Advisors LLC Acquires Shares of 3,519 PepsiCo, Inc. (NASDAQ:PEP)

Edge Financial Advisors LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent filing with the SEC. The fund purchased 3,519 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. Norden Group LLC raised its holdings in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the period. M&G Plc grew its position in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the last quarter. OLD Second National Bank of Aurora raised its stake in PepsiCo by 32.7% during the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC boosted its stake in PepsiCo by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after acquiring an additional 2,976 shares during the period. Finally, Viking Fund Management LLC grew its holdings in shares of PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after purchasing an additional 5,000 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.65 during trading on Wednesday, hitting $166.85. The stock had a trading volume of 254,177 shares, compared to its average volume of 5,441,949. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business has a fifty day moving average of $173.61 and a two-hundred day moving average of $172.29. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm has a market cap of $229.38 billion, a P/E ratio of 24.31, a PEG ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced 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 company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.