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

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Loveless Wealth Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,162 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Loveless Wealth Management LLC’s holdings in PepsiCo were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in PepsiCo by 6.0% during the 2nd quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock worth $16,474,240,000 after purchasing an additional 7,075,509 shares during the period. Nordea Investment Management AB increased its stake in PepsiCo by 161.6% in the second quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock valued at $781,896,000 after purchasing an additional 3,666,099 shares during the period. Capital International Investors purchased a new stake in shares of PepsiCo in the first quarter valued at about $227,508,000. Two Sigma Advisers LP boosted its stake in shares of PepsiCo by 211.7% during the second quarter. Two Sigma Advisers LP now owns 2,133,685 shares of the company’s stock worth $282,201,000 after buying an additional 1,449,200 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new position in shares of PepsiCo during the first quarter worth about $55,808,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

PEP stock opened at $141.73 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.79 and a debt-to-equity ratio of 3.05. The company’s 50-day moving average price is $137.07 and its 200 day moving average price is $134.07. PepsiCo, Inc. has a 52 week low of $101.42 and a 52 week high of $147.20. The company has a market cap of $195.86 billion, a P/E ratio of 28.98, a P/E/G ratio of 4.53 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.17. The company had revenue of $18.09 billion during the quarter, compared to the consensus estimate of $17.24 billion. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current year.

Several research firms have commented on PEP. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and upped their price objective for the company from $148.00 to $169.00 in a research note on Monday, October 12th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Friday, September 18th. Truist lifted their price objective on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Jefferies Financial Group upped their price objective on shares of PepsiCo from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Finally, SunTrust Banks raised their target price on shares of PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $144.13.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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