Concord Asset Management LLC VA Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Concord Asset Management LLC VA raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,234 shares of the company’s stock after buying an additional 1,460 shares during the quarter. Concord Asset Management LLC VA’s holdings in PepsiCo were worth $2,931,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $158.62 on Friday. The firm 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 stock has a 50-day simple moving average of $170.82 and a two-hundred day simple moving average of $171.53. 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, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.

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

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.