PepsiCo, Inc. (NASDAQ:PEP) Position Boosted by GGM Financials LLC

GGM Financials LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,690 shares of the company’s stock after purchasing an additional 589 shares during the quarter. GGM Financials LLC’s holdings in PepsiCo were worth $627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter valued at about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.9 %

Shares of NASDAQ:PEP opened at $164.71 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market cap of $225.98 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 3.10 and a beta of 0.53. The company’s fifty day simple moving average is $172.50 and its 200 day simple moving average is $172.11. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

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 business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PEP shares. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

About PepsiCo

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.