Soltis Investment Advisors LLC Increases Stock Position in PepsiCo, Inc. $PEP

Soltis Investment Advisors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,128 shares of the company’s stock after acquiring an additional 684 shares during the period. Soltis Investment Advisors LLC’s holdings in PepsiCo were worth $809,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the second quarter valued at $29,000. Frazier Financial Advisors LLC grew its position 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 during the period. Investment Research & Advisory Group Inc. raised its position in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in PepsiCo during the 2nd quarter worth approximately $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PEP shares. Barclays boosted their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. UBS Group dropped their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Loop Capital set a $164.00 price objective on PepsiCo in a research report on Thursday, October 23rd. Finally, Morgan Stanley upped their target price on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.95.

PepsiCo Stock Down 0.9%

Shares of PEP opened at $141.58 on Friday. The company’s 50-day moving average price is $145.42 and its 200 day moving average price is $139.74. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $166.88. 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 firm has a market cap of $193.59 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

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