Ipsen Advisor Group LLC Raises Stock Holdings in PepsiCo, Inc. $PEP

Ipsen Advisor Group LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 126.6% in the second quarter, Holdings Channel reports. The fund owned 7,191 shares of the company’s stock after buying an additional 4,017 shares during the quarter. Ipsen Advisor Group LLC’s holdings in PepsiCo were worth $950,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PEP. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo in the 1st quarter worth about $25,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo in the second quarter worth about $29,000. Frazier Financial Advisors LLC grew its position in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the period. Finally, RMG Wealth Management LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $45,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Wells Fargo & Company increased their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Piper Sandler upped their target price on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group boosted their price target on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Down 0.9%

Shares of PEP stock opened at $141.58 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 fifty-two week low of $127.60 and a fifty-two week high of $166.88. The firm has a market capitalization of $193.59 billion, a PE ratio of 26.92, a P/E/G ratio of 3.56 and a beta of 0.45. The stock’s 50-day simple moving average is $145.42 and its 200-day simple moving average is $139.74.

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

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.