Provenance Wealth Advisors LLC Purchases 4,875 Shares of PepsiCo, Inc. $PEP

Provenance Wealth Advisors LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 1,108.0% during the third quarter, Holdings Channel reports. The firm owned 5,315 shares of the company’s stock after buying an additional 4,875 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in PepsiCo were worth $674,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PEP. Associated Banc Corp acquired a new stake in PepsiCo during the 3rd quarter worth approximately $14,483,000. Putney Financial Group LLC acquired a new position in PepsiCo in the 3rd quarter valued at $52,000. Integrity Alliance LLC. increased its position in PepsiCo by 9.0% during the 3rd quarter. Integrity Alliance LLC. now owns 21,791 shares of the company’s stock worth $2,761,000 after buying an additional 1,800 shares during the period. Integrity Advisory Solutions LLC increased its position in PepsiCo by 47.9% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 3,444 shares of the company’s stock worth $436,000 after buying an additional 1,115 shares during the period. Finally, Mountain Pacific Investment Advisers LLC lifted its holdings in shares of PepsiCo by 2.8% during the third quarter. Mountain Pacific Investment Advisers LLC now owns 5,250 shares of the company’s stock worth $665,000 after buying an additional 142 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PepsiCo

In other news, Director Robert Pohlad bought 184,646 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were purchased at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the acquisition, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. This represents a 74.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the completion of the transaction, the chief executive officer owned 491,645 shares of the company’s stock, valued at $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PEP shares. Morgan Stanley set a $145.00 target price on shares of PepsiCo in a research report on Friday, October 9th. Royal Bank Of Canada lowered their price target on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 6th. BNP Paribas Exane lowered their price target on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $165.00 price objective on shares of PepsiCo in a report on Thursday, October 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $143.28.

PepsiCo Stock Performance

NASDAQ:PEP opened at $142.42 on Thursday. The stock has a fifty day moving average price of $133.29 and a 200-day moving average price of $145.80. The company has a market cap of $194.08 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.09 and a beta of 0.31. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. PepsiCo, Inc. has a fifty-two week low of $123.47 and a fifty-two week high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.05. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. PepsiCo’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s snack pricing and affordability measures are reportedly helping drive volume gains and stronger consumer demand. That could support sales, although higher costs and margin pressure remain challenges. Can PepsiCo’s Snack Pricing Strategy Drive Volume Growth?
• Positive Sentiment: An expanded Taco Bell beverage partnership preserves PepsiCo’s exclusive supplier role and adds distribution opportunities for products including Mountain Dew Baja Blast, with plans for new functional and energy drinks. What Is PepsiCo Gaining From Its Expanded Beverage Partnership?
• Neutral Sentiment: Investor commentary highlights PepsiCo’s dividend record and appeal to income-focused investors. Another comparison notes improving organic sales growth, but says the earnings recovery remains sluggish; these are opinions rather than new company guidance. Clorox vs. PepsiCo: Which Dividend Stock Could Make You Richer Over the Next 10 Years?
• Negative Sentiment: India’s food regulator accused PepsiCo and Monster of marketing products with an “energy drink” label to mislead consumers. The allegations could create reputational or regulatory risk, though the reports do not detail any financial impact. India says PepsiCo, Monster marketed with ‘energy drink’ label to dupe consumers

PepsiCo Profile

PepsiCo, Inc (NASDAQ:PEP) is a global food and beverage company whose portfolio includes Pepsi-Cola, Mountain Dew, Gatorade, Lay’s, Doritos, Cheetos, Quaker, Tostitos, Fritos, and SodaStream. Its products span carbonated soft drinks, sports and energy beverages, bottled water, juices, convenient foods, snacks, and other packaged food offerings.

The company sells products through retail stores, restaurants, food-service providers, e-commerce platforms, and other distribution channels. PepsiCo serves consumers in North America and international markets across Latin America, Europe, Africa, the Middle East, and Asia-Pacific.