Absher Wealth Management LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Absher Wealth Management LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,471 shares of the company’s stock after purchasing an additional 7,268 shares during the quarter. PepsiCo comprises 4.5% of Absher Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Absher Wealth Management LLC’s holdings in PepsiCo were worth $34,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Worth Financial Advisory Group LLC raised its position in shares of PepsiCo by 14.2% during the first quarter. Worth Financial Advisory Group LLC now owns 3,936 shares of the company’s stock worth $689,000 after purchasing an additional 490 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of PepsiCo by 16.7% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,709 shares of the company’s stock valued at $649,000 after buying an additional 532 shares during the last quarter. Wambolt & Associates LLC increased its holdings in PepsiCo by 12.4% in the first quarter. Wambolt & Associates LLC now owns 19,363 shares of the company’s stock worth $3,349,000 after buying an additional 2,130 shares during the last quarter. Parthenon LLC raised its position in PepsiCo by 0.6% during the first quarter. Parthenon LLC now owns 101,407 shares of the company’s stock valued at $17,747,000 after acquiring an additional 612 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of PepsiCo by 1.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 53,680 shares of the company’s stock worth $9,395,000 after purchasing an additional 850 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.37 during mid-day trading on Friday, hitting $165.71. The stock had a trading volume of 343,628 shares, compared to its average volume of 5,440,012. The company’s 50 day simple moving average is $173.24 and its 200 day simple moving average is $172.20. The stock has a market cap of $227.35 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.10 and a beta of 0.53. 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 twelve month low of $158.03 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PEP shares. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a 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 research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.