Pekin Hardy Strauss Inc. Has $3.65 Million Position in PepsiCo, Inc. $PEP

Pekin Hardy Strauss Inc. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,669 shares of the company’s stock after selling 734 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in PepsiCo were worth $3,653,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $25,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter valued at about $29,000. Frazier Financial Advisors LLC lifted its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. boosted its position in shares of PepsiCo by 263.6% during the second 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 period. Finally, RMG Wealth Management LLC acquired a new stake in PepsiCo in the 2nd quarter valued at approximately $45,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.9%

PepsiCo stock opened at $141.58 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a 50-day simple moving average of $145.42 and a 200 day simple moving average of $139.74. The stock has a market capitalization of $193.59 billion, a P/E ratio of 26.92, a PEG ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $166.88.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Piper Sandler raised their price target on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. The Goldman Sachs Group lifted their target price on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Company 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.