PepsiCo, Inc. $PEP Position Decreased by Burling Wealth Partners LLC

Burling Wealth Partners LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,432 shares of the company’s stock after selling 1,707 shares during the quarter. Burling Wealth Partners LLC’s holdings in PepsiCo were worth $1,642,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth $25,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC increased its stake in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. raised its holdings in 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 buying an additional 232 shares during the period. Finally, RMG Wealth Management LLC purchased a new stake in PepsiCo during the second quarter valued at about $45,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEP shares. Morgan Stanley boosted their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Royal Bank Of Canada cut their target price on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Citigroup decreased their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Cowen restated a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Price Performance

PEP opened at $145.02 on Friday. The stock has a fifty day moving average price of $144.96 and a 200 day moving average price of $139.91. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $166.88. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during 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 business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $2.31 EPS. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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.