PepsiCo, Inc. $PEP Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 111,937 shares of the company’s stock after selling 13,145 shares during the quarter. Prospera Financial Services Inc’s holdings in PepsiCo were worth $14,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC increased its stake in PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares during the period. Investment Research & Advisory Group Inc. lifted its holdings in PepsiCo by 263.6% in 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 in the last quarter. Finally, RMG Wealth Management LLC purchased a new position in PepsiCo in the 2nd quarter valued at about $45,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $142.95 on Friday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88. The firm has a market capitalization of $195.46 billion, a PE ratio of 27.18, 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 current ratio of 0.91 and a quick ratio of 0.72. The business’s fifty day moving average price is $145.31 and its two-hundred day moving average price is $139.75.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 business had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on PEP shares. Piper Sandler boosted their price target on PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Bank of America raised their price target on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, Barclays raised their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $156.95.

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.