TrinityPoint Wealth LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

TrinityPoint Wealth LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,499 shares of the company’s stock after acquiring an additional 204 shares during the quarter. TrinityPoint Wealth LLC’s holdings in PepsiCo were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo during the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised 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 worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the second quarter valued at $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $158.62 on Monday. The business’s 50-day simple moving average is $170.82 and its 200-day simple moving average is $171.50. The firm has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEP shares. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $183.92.

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.