PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by RKL Wealth Management LLC

RKL Wealth Management LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,936 shares of the company’s stock after purchasing an additional 300 shares during the quarter. RKL Wealth Management LLC’s holdings in PepsiCo were worth $2,200,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates raised its stake 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 period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Barclays decreased their target price 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. 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 report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $165.11 on Friday. 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 company has a market capitalization of $226.53 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The business has a 50 day simple moving average of $172.19 and a 200-day simple moving average of $171.97.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current 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.