Sequoia Financial Advisors LLC Has $3.72 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sequoia Financial Advisors LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,846 shares of the company’s stock after selling 175 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PepsiCo were worth $3,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. Creative Financial Designs Inc. ADV acquired a new stake in PepsiCo during the 2nd quarter worth about $26,000. Evolution Wealth Advisors LLC raised its stake in shares of PepsiCo by 342.2% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 283 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. RPG Investment Advisory LLC raised its stake in shares of PepsiCo by 191.0% during the 2nd quarter. RPG Investment Advisory LLC now owns 291 shares of the company’s stock worth $38,000 after purchasing an additional 191 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of PepsiCo during the 2nd quarter worth about $40,000. Finally, Ellevest Inc. raised its stake in shares of PepsiCo by 144.7% during the 2nd quarter. Ellevest Inc. now owns 367 shares of the company’s stock worth $49,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

A number of research firms have recently weighed in on PEP. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Friday, September 18th. BidaskClub downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Friday, October 9th. UBS Group raised their price target on PepsiCo from $140.00 to $146.00 in a research note on Friday, October 2nd. Truist raised their price objective on PepsiCo from $130.00 to $135.00 in a research note on Friday, October 2nd. Finally, Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $148.00 to $169.00 in a research note on Monday, October 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. PepsiCo presently has an average rating of “Buy” and a consensus target price of $144.13.

PEP traded down $2.18 during midday trading on Monday, reaching $137.38. The company’s stock had a trading volume of 211,874 shares, compared to its average volume of 5,331,514. The stock has a market cap of $192.87 billion, a P/E ratio of 27.04, a PEG ratio of 3.90 and a beta of 0.57. The company has a fifty day simple moving average of $137.13 and a 200 day simple moving average of $134.72. The company has a current ratio of 0.93, a quick ratio of 0.77 and a debt-to-equity ratio of 2.79. PepsiCo, Inc. has a twelve month low of $101.42 and a twelve month high of $147.20.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.17. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The company had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.24 billion. During the same quarter last year, the firm earned $1.56 EPS. PepsiCo’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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