Harbour Investments Inc. Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Harbour Investments Inc. reduced its stake in PepsiCo, Inc. by 9.4%, now holding 24,748 shares worth approximately $3.71 million.
• PepsiCo's latest earnings report showed a beat on EPS at $2.12, exceeding estimates, and revenue growth of 1% year-over-year to $22.73 billion.
• The company declared a quarterly dividend of $1.4225, scheduled to be paid on September 30th, reflecting a 4.1% yield.

Harbour Investments Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,748 shares of the company's stock after selling 2,570 shares during the period. Harbour Investments Inc.'s holdings in PepsiCo were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PepsiCo Stock Up 1.0%

NASDAQ PEP traded up $1.36 during trading hours on Friday, hitting $139.28. 7,606,047 shares of the company traded hands, compared to its average volume of 9,347,638. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The stock has a market capitalization of $190.69 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.67 and a beta of 0.45. The business's 50-day moving average is $134.63 and its 200-day moving average is $140.89. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $22.28 billion. During the same quarter last year, the business posted $2.28 EPS. The company's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.

Analysts Set New Price Targets

A number of research firms have recently commented on PEP. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. UBS Group decreased their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Bank of America cut their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $158.73.

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.