Symphony Financial Ltd. Co. Purchases New Position in PepsiCo, Inc. $PEP

Symphony Financial Ltd. Co. acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 245,611 shares of the company’s stock, valued at approximately $32,564,000.

Other hedge funds also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo during the 1st quarter worth $25,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the second quarter worth about $29,000. Frazier Financial Advisors LLC raised its position in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. Investment Research & Advisory Group Inc. lifted its holdings in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in shares of PepsiCo in the 2nd quarter valued at approximately $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HSBC upped their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. BNP Paribas Exane reduced their price objective on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Citigroup dropped their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company boosted their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Trading Up 0.6%

NASDAQ PEP opened at $145.85 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $165.13. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a 50 day moving average of $144.95 and a 200-day moving average of $140.06. The company has a market cap of $199.43 billion, a PE ratio of 27.73, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.