Harbor Investment Advisory LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,762 shares of the company’s stock after purchasing an additional 507 shares during the period. Harbor Investment Advisory LLC’s holdings in PepsiCo were worth $3,810,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Advisors Management Group Inc. ADV lifted its holdings in shares of PepsiCo by 20.9% during the 1st quarter. Advisors Management Group Inc. ADV now owns 1,448 shares of the company’s stock valued at $242,000 after purchasing an additional 250 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in PepsiCo by 1.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 29,854 shares of the company’s stock worth $4,997,000 after acquiring an additional 338 shares during the last quarter. Virginia Wealth Management Group Inc. raised its stake in PepsiCo by 5.8% in the 1st quarter. Virginia Wealth Management Group Inc. now owns 17,110 shares of the company’s stock worth $2,933,000 after acquiring an additional 941 shares during the last quarter. Strategic Asset Management LLC raised its stake in PepsiCo by 53.3% in the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after acquiring an additional 96 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its stake in PepsiCo by 42,605.9% in the 1st quarter. Congress Asset Management Co. MA now owns 547,917 shares of the company’s stock worth $91,710,000 after acquiring an additional 546,634 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Shares of PepsiCo stock opened at $166.66 on Friday. The stock has a market cap of $230.44 billion, a P/E ratio of 22.80, a P/E/G ratio of 3.30 and a beta of 0.59. The stock’s 50-day simple moving average is $166.31 and its 200-day simple moving average is $167.92. PepsiCo, Inc. has a 1-year low of $147.77 and a 1-year high of $177.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.87 and a quick ratio of 0.68.
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.54 billion. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 6.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd were given a $1.15 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, June 2nd. This represents a $4.60 dividend on an annualized basis and a yield of 2.76%. PepsiCo’s payout ratio is currently 62.93%.
A number of equity analysts have weighed in on the company. Guggenheim lifted their price objective on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 27th. UBS Group reduced their price objective on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Credit Suisse Group raised their price objective on PepsiCo from $163.00 to $168.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $173.00 to $175.00 in a research note on Wednesday, April 27th. Finally, JPMorgan Chase & Co. lifted their price objective on PepsiCo from $183.00 to $186.00 in a research note on Wednesday, April 27th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.13.
In other PepsiCo news, EVP David Flavell sold 5,150 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $175.11, for a total value of $901,816.50. Following the completion of the transaction, the executive vice president now owns 28,275 shares in the company, valued at $4,951,235.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eugene Willemsen sold 4,560 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the transaction, the chief executive officer now owns 8,277 shares of the company’s stock, valued at approximately $1,453,523.97. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.
PepsiCo Company Profile: (Get Rating)
PepsiCo, Inc. manufactures, markets, distributes, and sells 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.
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