PepsiCo, Inc. $PEP Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 148,991 shares of the company’s stock after selling 6,575 shares during the period. Modera Wealth Management LLC’s holdings in PepsiCo were worth $19,673,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Nova Wealth Management Inc. purchased a new stake in PepsiCo during the 1st quarter worth $25,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the second quarter valued at $29,000. Frazier Financial Advisors LLC lifted its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. boosted its position in PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $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 during the second quarter worth about $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Bank of America boosted their target price on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Royal Bank Of Canada reduced their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Piper Sandler increased their target price on PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Down 0.9%

NASDAQ:PEP opened at $141.58 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a 50 day moving average of $145.42 and a 200-day moving average of $139.74. The firm has a market capitalization of $193.59 billion, a PE ratio of 26.92, a price-to-earnings-growth 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 released its quarterly earnings data 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 business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

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.