PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,848 shares of the company’s stock after selling 1,643 shares during the period. Harbor Investment Advisory LLC’s holdings in PepsiCo were worth $3,545,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in 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 during the last quarter. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo in the second quarter valued at approximately $30,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP traded down $0.56 during midday trading on Friday, reaching $167.97. 4,391,321 shares of the company’s stock were exchanged, compared to its average volume of 5,492,783. The stock has a market capitalization of $230.92 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The business’s fifty day moving average price is $173.80 and its two-hundred day moving average price is $172.10.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. Analysts forecast that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.23%. PepsiCo’s payout ratio is currently 78.66%.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Finally, Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $185.29.

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.