Fifth Third Wealth Advisors LLC Acquires 5,564 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fifth Third Wealth Advisors LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,217 shares of the company's stock after purchasing an additional 5,564 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in PepsiCo were worth $4,798,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company's stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP boosted its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company's stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company's stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Bank of Montreal Can boosted its stake in PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company's stock valued at $676,036,000 after acquiring an additional 492,888 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP traded down $1.49 during mid-day trading on Tuesday, hitting $156.84. 2,563,226 shares of the company traded hands, compared to its average volume of 5,459,929. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average of $170.42 and a 200 day moving average of $171.38. The stock has a market capitalization of $215.18 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.