OneAscent Wealth Management LLC Purchases New Stake in PepsiCo, Inc. (NASDAQ:PEP)

OneAscent Wealth Management LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,962 shares of the company's stock, valued at approximately $1,014,000. PepsiCo accounts for about 0.4% of OneAscent Wealth Management LLC's investment portfolio, making the stock its 24th largest holding.

Other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research note on Friday, October 4th. Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $183.92.

PepsiCo Stock Down 0.2 %

Shares of PEP traded down $0.29 during mid-day trading on Monday, hitting $158.33. The company's stock had a trading volume of 6,960,243 shares, compared to its average volume of 5,472,910. PepsiCo, Inc. has a 52-week low of $157.76 and a 52-week high of $183.41. The company's 50-day moving average is $170.82 and its 200-day moving average is $171.50. The firm has a market capitalization of $217.23 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.96 and a beta of 0.53. 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 (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The company's revenue was down .6% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS 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.