Empower Advisory Group LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Empower Advisory Group LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 378,902 shares of the company’s stock after buying an additional 16,523 shares during the period. Empower Advisory Group LLC’s holdings in PepsiCo were worth $64,432,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Meixler Investment Management Ltd. lifted its stake in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Bank of Stockton increased its position in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its stake in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.0 %

PEP stock opened at $164.34 on Wednesday. The stock has a market capitalization of $225.47 billion, a P/E ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. The company has a 50 day moving average price of $172.02 and a two-hundred day moving average price of $171.85. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company posted $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS 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.