Avantax Advisory Services Inc. Boosts Stake in PepsiCo, Inc. $PEP

Avantax Advisory Services Inc. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,961 shares of the company’s stock after purchasing an additional 4,627 shares during the period. Avantax Advisory Services Inc.’s holdings in PepsiCo were worth $24,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after buying an additional 1,802,748 shares in the last quarter. Geode Capital Management LLC grew its stake in PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after acquiring an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after acquiring an additional 208,292 shares during the period. Finally, Invesco Ltd. lifted its holdings in PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after purchasing an additional 491,894 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Rothschild & Co Redburn boosted their target price on shares of PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research note on Monday, October 13th. UBS Group reduced their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Loop Capital set a $164.00 target price on PepsiCo in a research report on Thursday, October 23rd. 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 report on Friday, October 10th. Finally, Evercore ISI raised their price objective on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $156.95.

PepsiCo Price Performance

NASDAQ:PEP opened at $145.85 on Friday. The stock has a 50 day moving average price of $144.95 and a 200 day moving average price of $140.03. The stock has a market cap of $199.43 billion, a PE ratio of 27.73, a P/E/G ratio of 3.56 and a beta of 0.45. 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.

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

PepsiCo Company 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.