Loveless Wealth Management LLC Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Loveless Wealth Management LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,162 shares of the company’s stock after buying an additional 235 shares during the period. Loveless Wealth Management LLC’s holdings in PepsiCo were worth $300,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of PepsiCo by 0.4% in the first quarter. State Street Corp now owns 66,071,399 shares of the company’s stock valued at $7,935,175,000 after purchasing an additional 291,943 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in PepsiCo by 9.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 669,876 shares of the company’s stock valued at $80,452,000 after buying an additional 58,122 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of PepsiCo by 170.1% during the first quarter. Loomis Sayles & Co. L P now owns 6,086 shares of the company’s stock valued at $731,000 after acquiring an additional 3,833 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of PepsiCo by 16.5% during the first quarter. Cohen & Steers Inc. now owns 1,671 shares of the company’s stock valued at $201,000 after acquiring an additional 237 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of PepsiCo during the first quarter worth about $1,908,000. Institutional investors and hedge funds own 70.16% of the company’s stock.

Shares of NASDAQ PEP opened at $141.73 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.97 and a debt-to-equity ratio of 3.05. The firm’s 50-day moving average price is $137.07 and its two-hundred day moving average price is $134.07. PepsiCo, Inc. has a 52-week low of $101.42 and a 52-week high of $147.20. The stock has a market capitalization of $195.86 billion, a P/E ratio of 28.98, a P/E/G ratio of 4.53 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.17. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The business had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $17.24 billion. During the same period in the prior year, the firm earned $1.56 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current year.

PEP has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. Truist raised their price target on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. UBS Group upped their price target on shares of PepsiCo from $140.00 to $146.00 in a report on Friday, October 2nd. SunTrust Banks raised their price objective on shares of PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Finally, Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target on the stock. in a research report on Friday, September 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $144.13.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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