Western Pacific Wealth Management LP Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Western Pacific Wealth Management LP boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,554 shares of the company’s stock after purchasing an additional 400 shares during the period. Western Pacific Wealth Management LP’s holdings in PepsiCo were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in PepsiCo by 12.8% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,598 shares of the company’s stock valued at $3,080,000 after purchasing an additional 2,000 shares during the period. PFG Advisors boosted its stake in shares of PepsiCo by 50.7% in the 1st quarter. PFG Advisors now owns 7,596 shares of the company’s stock valued at $1,329,000 after buying an additional 2,556 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of PepsiCo by 18.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 63,684 shares of the company’s stock worth $11,145,000 after buying an additional 9,776 shares in the last quarter. Nelson Capital Management LLC purchased a new stake in shares of PepsiCo during the first quarter worth approximately $542,000. Finally, Sustainable Insight Capital Management LLC acquired a new stake in PepsiCo in the first quarter valued at approximately $595,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.4 %

Shares of PepsiCo stock opened at $164.00 on Friday. The company’s fifty day moving average is $172.50 and its two-hundred day moving average is $172.11. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $225.01 billion, a P/E ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEP. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.