Empowered Funds LLC Buys 8,406 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Empowered Funds LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,785 shares of the company's stock after acquiring an additional 8,406 shares during the period. Empowered Funds LLC's holdings in PepsiCo were worth $16,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the 3rd 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 acquired a new stake in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 4.0 %

NASDAQ:PEP traded down $6.53 during trading hours on Friday, reaching $158.62. 9,099,574 shares of the stock were exchanged, compared to its average volume of 5,466,003. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The stock has a market cap of $217.63 billion, a PE ratio of 23.70, a PEG ratio of 3.07 and a beta of 0.53. The firm has a 50 day moving average of $171.19 and a 200 day moving average of $171.68.

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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to analysts' expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. PepsiCo's revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. DZ Bank lowered PepsiCo from a "buy" rating to a "hold" rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. 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 report 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 objective on the stock. in a report on Friday, September 20th. Finally, TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.