King Wealth Management Group Cuts Stake in PepsiCo, Inc. $PEP

King Wealth Management Group decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,288 shares of the company’s stock after selling 1,010 shares during the period. King Wealth Management Group’s holdings in PepsiCo were worth $3,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of PepsiCo by 29.6% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 109,162 shares of the company’s stock valued at $14,402,000 after buying an additional 24,964 shares during the period. Clearstead Trust LLC lifted its stake in PepsiCo by 1.2% in the second quarter. Clearstead Trust LLC now owns 8,882 shares of the company’s stock worth $1,173,000 after acquiring an additional 104 shares during the last quarter. Investment Partners LTD. grew its holdings in PepsiCo by 2.0% during the 2nd quarter. Investment Partners LTD. now owns 11,571 shares of the company’s stock worth $1,528,000 after acquiring an additional 228 shares in the last quarter. Avalon Trust Co raised its holdings in shares of PepsiCo by 10.2% in the 2nd quarter. Avalon Trust Co now owns 3,277 shares of the company’s stock valued at $433,000 after purchasing an additional 303 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of PepsiCo during the 2nd quarter worth $415,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.4%

Shares of PEP stock opened at $145.02 on Friday. The business’s fifty day moving average price is $144.96 and its 200 day moving average price is $139.91. The firm has a market capitalization of $198.29 billion, a PE ratio of 27.57, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEP. Royal Bank Of Canada dropped their target price on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Rothschild & Co Redburn upped their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research note on Monday, October 13th. The Goldman Sachs Group lifted their target price on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Barclays raised their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Finally, Morgan Stanley lifted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $156.95.

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.