Fortune Financial Advisors LLC Sells 354 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fortune Financial Advisors LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,256 shares of the company’s stock after selling 354 shares during the period. Fortune Financial Advisors LLC’s holdings in PepsiCo were worth $724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.2 %

NASDAQ:PEP opened at $171.79 on Friday. The firm has a 50-day simple moving average of $173.86 and a 200-day simple moving average of $172.26. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a market cap of $236.17 billion, a P/E ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

Wall Street Analyst Weigh In

Several research analysts have commented on PEP shares. Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays cut 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. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.