Angeles Wealth Management LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Angeles Wealth Management LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,134 shares of the company’s stock after purchasing an additional 639 shares during the period. Angeles Wealth Management LLC’s holdings in PepsiCo were worth $2,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its holdings in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research analyst reports. Barclays lowered their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.49 during trading hours on Friday, hitting $165.59. 6,339,121 shares of the company were exchanged, compared to its average volume of 5,135,751. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. 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 business has a 50-day moving average of $173.03 and a 200-day moving average of $172.23. The stock has a market capitalization of $227.19 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53.

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