Avidian Wealth Enterprises LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Avidian Wealth Enterprises LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,831 shares of the company’s stock after selling 287 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in PepsiCo were worth $3,032,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares during the period. Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB grew its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Finally, Legal & General Group Plc grew 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 valued at $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEP. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group reduced their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $167.85 on Wednesday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock’s fifty day simple moving average is $172.69 and its 200 day simple moving average is $172.16. The company has a market capitalization of $230.29 billion, a PE ratio of 24.76, a PEG ratio of 3.09 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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