Smith Salley Wealth Management Has $21.27 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Smith Salley Wealth Management lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 125,103 shares of the company’s stock after buying an additional 2,205 shares during the quarter. PepsiCo comprises about 1.4% of Smith Salley Wealth Management’s portfolio, making the stock its 23rd largest holding. Smith Salley Wealth Management’s holdings in PepsiCo were worth $21,274,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Advisors Ltd. LLC grew its position in shares of PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after purchasing an additional 139 shares during the last quarter. Norden Group LLC increased its position in PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after buying an additional 174,171 shares during the period. M&G Plc lifted its holdings in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after buying an additional 14,724 shares in the last quarter. OLD Second National Bank of Aurora boosted its position in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after acquiring an additional 5,737 shares during the period. Finally, Koss Olinger Consulting LLC grew its stake in shares of PepsiCo by 1,320.5% in the first quarter. Koss Olinger Consulting LLC now owns 33,425 shares of the company’s stock valued at $5,850,000 after acquiring an additional 31,072 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PEP shares. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $171.79 on Friday. The business has a 50-day simple moving average of $173.86 and a two-hundred day simple moving average of $172.26. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock has a market cap of $236.17 billion, a PE ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

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