PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 197.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,020 shares of the company’s stock after purchasing an additional 677 shares during the period. Fortitude Family Office LLC’s holdings in PepsiCo were worth $173,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth $30,000. Mattson Financial Services LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $34,000. Finally, New Millennium Group LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at about $42,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.0 %

NASDAQ PEP opened at $169.85 on Tuesday. 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 one year low of $158.03 and a one year high of $183.41. The firm’s fifty day moving average is $173.78 and its two-hundred day moving average is $172.29. The firm has a market cap of $233.51 billion, a PE ratio of 24.65, a P/E/G ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $2.25 EPS. Analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $183.92.

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.