Absher Wealth Management LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Absher Wealth Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,471 shares of the company’s stock after acquiring an additional 7,268 shares during the quarter. PepsiCo accounts for about 4.5% of Absher Wealth Management LLC’s portfolio, making the stock its 5th largest position. Absher Wealth Management LLC’s holdings in PepsiCo were worth $34,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. Global Wealth Strategies & Associates raised its stake in 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 buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at $28,000. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

Shares of PEP stock traded down $0.37 during trading hours on Friday, hitting $165.71. 343,628 shares of the company were exchanged, compared to its average volume of 5,440,012. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. 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 fifty day simple moving average of $173.24 and a 200 day simple moving average of $172.20. The stock has a market capitalization of $227.35 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm 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%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. Research analysts predict 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.