Atlanta Consulting Group Advisors LLC Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Atlanta Consulting Group Advisors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 128.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,581 shares of the company's stock after purchasing an additional 4,260 shares during the period. Atlanta Consulting Group Advisors LLC's holdings in PepsiCo were worth $1,289,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Edgestream Partners L.P. lifted its position in PepsiCo by 20.9% in the first quarter. Edgestream Partners L.P. now owns 4,605 shares of the company's stock worth $806,000 after purchasing an additional 796 shares during the period. Alley Investment Management Company LLC increased its stake in PepsiCo by 0.7% in the first quarter. Alley Investment Management Company LLC now owns 68,315 shares of the company's stock valued at $11,956,000 after acquiring an additional 445 shares during the period. Trustmark National Bank Trust Department raised its position in PepsiCo by 0.3% in the first quarter. Trustmark National Bank Trust Department now owns 35,257 shares of the company's stock worth $6,170,000 after purchasing an additional 113 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in PepsiCo by 2.6% during the first quarter. Bahl & Gaynor Inc. now owns 2,587,186 shares of the company's stock worth $452,783,000 after purchasing an additional 66,537 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its holdings in PepsiCo by 5.6% during the first quarter. Penobscot Investment Management Company Inc. now owns 53,416 shares of the company's stock valued at $9,348,000 after purchasing an additional 2,847 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Barclays lowered 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. Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of "Hold" and an average price target of $183.92.

PepsiCo Trading Down 4.0 %

PEP stock traded down $6.53 during trading on Friday, hitting $158.62. The company had a trading volume of 9,108,948 shares, compared to its average volume of 4,996,625. The stock has a market cap of $217.63 billion, a PE ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. The business has a 50-day moving average of $170.82 and a 200-day moving average of $171.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analysts' expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo 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.