Legacy Capital Group California Inc. acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,263 shares of the company’s stock, valued at approximately $215,000.
Several other hedge funds have also added to or reduced their stakes in the business. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.
PepsiCo Price Performance
Shares of PEP opened at $171.79 on Friday. The company’s 50-day moving average is $173.86 and its 200-day moving average is $172.25. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market capitalization of $236.17 billion, a PE ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on PEP. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Jefferies Financial Group decreased their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.92.
Check Out Our Latest Analysis on PEP
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.
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