PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 378,902 shares of the company’s stock after purchasing an additional 16,523 shares during the period. Empower Advisory Group LLC’s holdings in PepsiCo were worth $64,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. Swedbank AB lifted its stake in PepsiCo by 211.4% during the third 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 during the last quarter. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the period. Legal & General Group Plc raised its position in 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 buying an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in PepsiCo during the third quarter valued at approximately $151,749,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $164.34 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $225.47 billion, a PE ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a fifty day moving average price of $172.02 and a 200 day moving average price of $171.85.

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

Analyst Ratings Changes

Several research firms have commented on PEP. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.