PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 24.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,217 shares of the company’s stock after buying an additional 5,564 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PepsiCo were worth $4,798,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PEP. Empowered Funds LLC boosted its stake in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the last quarter. M&G Plc lifted its holdings in shares of PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in shares of PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after acquiring an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC grew its holdings in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after buying an additional 3,727 shares in the last quarter. Finally, Empower Advisory Group LLC raised its holdings in PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after purchasing an additional 16,523 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.2 %

PEP stock opened at $158.33 on Tuesday. The company has a 50 day moving average of $170.42 and a two-hundred day moving average of $171.38. The company has a market cap of $217.23 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $157.76 and a 12-month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Company 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.