Modera Wealth Management LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Modera Wealth Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,947 shares of the company’s stock after selling 5,121 shares during the period. Modera Wealth Management LLC’s holdings in PepsiCo were worth $27,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. raised its stake in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Bank of Stockton boosted its stake in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ:PEP opened at $171.79 on Friday. The business’s 50 day simple moving average is $173.86 and its 200 day simple moving average is $172.26. 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 current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $236.17 billion, a P/E ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEP. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.