ProVise Management Group LLC Increases Stock Position in PepsiCo, Inc. $PEP

ProVise Management Group LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,972 shares of the company’s stock after purchasing an additional 3,634 shares during the quarter. ProVise Management Group LLC’s holdings in PepsiCo were worth $3,825,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. purchased a new stake in PepsiCo during the 1st quarter valued at approximately $25,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC increased its stake in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares during the period. Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Loop Capital set a $164.00 price target on PepsiCo in a research note on Thursday, October 23rd. Morgan Stanley increased their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Jefferies Financial Group upped their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company raised their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Up 0.6%

Shares of NASDAQ PEP opened at $145.85 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm’s 50-day moving average is $144.95 and its two-hundred day moving average is $139.99. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $165.13. The company has a market capitalization of $199.43 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

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

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.