Walkner Condon Financial Advisors LLC Acquires 1,362 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Walkner Condon Financial Advisors LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 77.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,118 shares of the company’s stock after purchasing an additional 1,362 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in PepsiCo were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PEP. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP grew its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its position in PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Bank of Montreal Can lifted its stake in PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after purchasing an additional 492,888 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 1.9 %

NASDAQ:PEP opened at $164.71 on Thursday. The company’s 50-day simple moving average is $172.50 and its 200-day simple moving average is $172.11. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market capitalization of $225.98 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly 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 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo 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.