PepsiCo, Inc. $PEP Shares Sold by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 27.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,634 shares of the company’s stock after selling 12,998 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in PepsiCo were worth $4,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Claris Advisors LLC MO lifted its stake in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after buying an additional 308 shares during the last quarter. Foster Group Inc. raised its position in PepsiCo by 4.6% in the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the last quarter. Ignite Planners LLC boosted its stake in PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after purchasing an additional 151 shares during the period. Merit Financial Group LLC grew its position in PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after purchasing an additional 36,239 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after purchasing an additional 620 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEP. Citigroup lowered their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. BNP Paribas Exane cut their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. Finally, Bank of America upped their price objective 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. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $145.85 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. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $165.13. The firm has a market capitalization of $199.43 billion, a P/E ratio of 27.73, a PEG ratio of 3.56 and a beta of 0.45. The company’s fifty day moving average is $144.95 and its two-hundred day moving average is $139.99.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS 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.