Legacy Capital Group California Inc. Makes New $215,000 Investment in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Capital Group California Inc. acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) 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.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the firm earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.

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.