Prospera Financial Services Inc Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Prospera Financial Services Inc lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,361 shares of the company's stock after purchasing an additional 11,510 shares during the period. Prospera Financial Services Inc's holdings in PepsiCo were worth $18,773,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $30,000. Finally, Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock worth $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $1.68 during midday trading on Tuesday, reaching $156.65. 2,441,876 shares of the company traded hands, compared to its average volume of 5,459,387. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The firm has a market capitalization of $214.92 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The firm's fifty day moving average price is $170.42 and its two-hundred day moving average price is $171.38.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its 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. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEP shares. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley cut shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. 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, the company currently has an average rating of "Hold" and an average target price of $183.92.

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.