Oak Harbor Wealth Partners LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Oak Harbor Wealth Partners LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,461 shares of the company’s stock after buying an additional 204 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in PepsiCo were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. M&G Plc increased its position in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc increased its holdings in shares of PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the period. Fiduciary Family Office LLC increased its holdings in shares of PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares during the period. GFS Advisors LLC increased its holdings in shares of PepsiCo by 13,209.4% in the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after purchasing an additional 71,727 shares during the period. Finally, WoodTrust Financial Corp increased its holdings in shares of PepsiCo by 5.7% in the third quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock valued at $10,941,000 after purchasing an additional 3,465 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP stock opened at $165.15 on Friday. The business has a fifty day moving average of $171.48 and a two-hundred day moving average of $171.72. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $226.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Finally, Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.