Heritage Wealth Management Inc. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Heritage Wealth Management Inc. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,874 shares of the company’s stock after selling 872 shares during the quarter. Heritage Wealth Management Inc.’s holdings in PepsiCo were worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates grew 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 during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PepsiCo stock traded up $0.44 during midday trading on Friday, reaching $164.44. 234,660 shares of the company were exchanged, compared to its average volume of 5,443,593. The firm’s 50-day simple moving average is $172.50 and its 200-day simple moving average is $172.11. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $225.61 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. 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 report on Monday, September 30th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered 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. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.