Empowered Funds LLC Buys 8,406 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Empowered Funds LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.2% in the third quarter, Holdings Channel reports. The institutional investor owned 99,785 shares of the company’s stock after purchasing an additional 8,406 shares during the period. Empowered Funds LLC’s holdings in PepsiCo were worth $16,968,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Trillium Asset Management LLC lifted its position in PepsiCo by 5.5% in the 1st quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock valued at $590,000 after acquiring an additional 177 shares in the last quarter. M&G Plc bought a new position in PepsiCo during the first quarter valued at approximately $72,020,000. Mizuho Markets Americas LLC boosted its holdings in PepsiCo by 114.1% in the first quarter. Mizuho Markets Americas LLC now owns 60,479 shares of the company’s stock worth $10,584,000 after purchasing an additional 32,236 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in PepsiCo in the 1st quarter worth approximately $754,000. Finally, Nicolet Advisory Services LLC lifted its holdings in shares of PepsiCo by 1.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 40,851 shares of the company’s stock valued at $6,970,000 after buying an additional 428 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 1.3 %

PEP opened at $162.99 on Friday. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. 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 firm has a 50-day simple moving average of $171.48 and a two-hundred day simple moving average of $171.72. The company has a market capitalization of $223.62 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. Analysts forecast 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.