Everett Harris & Co. CA Has $61.65 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Everett Harris & Co. CA reduced its stake in PepsiCo, Inc. by 0.9%, now holding approximately 411,174 shares valued at $61.65 million.
• PepsiCo recently announced a quarterly dividend of $1.4225, which equates to an annualized dividend of $5.69 and a yield of 4.0%.
• The company reported $22.73 billion in revenue for the quarter, exceeding analyst expectations, and an earnings per share (EPS) of $2.12.

Everett Harris & Co. CA trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,174 shares of the company's stock after selling 3,620 shares during the period. PepsiCo accounts for about 0.8% of Everett Harris & Co. CA's investment portfolio, making the stock its 26th biggest holding. Everett Harris & Co. CA's holdings in PepsiCo were worth $61,651,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Elite Financial Inc. bought a new stake in PepsiCo in the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the 4th quarter valued at $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at $38,000. Bridge Generations Wealth Management LLC acquired a new stake in PepsiCo during the 4th quarter worth $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo in the fourth quarter valued at about $47,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PEP. Morgan Stanley raised their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Citigroup raised their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Up 0.9%

Shares of NASDAQ:PEP traded up $1.29 during midday trading on Friday, reaching $145.21. The company had a trading volume of 5,313,480 shares, compared to its average volume of 9,539,993. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $179.73. The stock has a market cap of $198.80 billion, a PE ratio of 26.45, a P/E/G ratio of 3.83 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The business's 50 day moving average price is $135.71 and its 200 day moving average price is $140.70.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the firm earned $2.28 EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is 103.64%.

About PepsiCo

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.