Harvest Fund Management Co. Ltd Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Harvest Fund Management Co. Ltd increased its holdings in PepsiCo by 12.7% in Q1, owning 90,978 shares valued at approximately $13.64 million.
• PepsiCo’s recent earnings report showed an EPS of $2.12, exceeding analyst estimates, with a revenue of $22.73 billion.
• The company announced a quarterly dividend of $1.4225, with a yield of 4.02% and a payout ratio of 103.64%.

Harvest Fund Management Co. Ltd raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,978 shares of the company's stock after purchasing an additional 10,233 shares during the period. PepsiCo makes up about 0.7% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 26th largest holding. Harvest Fund Management Co. Ltd's holdings in PepsiCo were worth $13,640,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after buying an additional 21,859 shares during the last quarter. Ignite Planners LLC lifted its position in PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares in the last quarter. Ossiam lifted its position in PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after purchasing an additional 42,793 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in PepsiCo during the first quarter valued at $3,633,000. Finally, OMERS ADMINISTRATION Corp lifted its position in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after purchasing an additional 13,461 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.3%

Shares of PepsiCo stock opened at $141.57 on Tuesday. The firm has a market capitalization of $193.82 billion, a PE ratio of 25.79, a P/E/G ratio of 3.82 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The firm's 50-day moving average price is $133.77 and its 200 day moving average price is $140.94. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.02%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PEP shares. Morgan Stanley raised their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Bank of America reduced their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Finally, Citigroup boosted their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus 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.

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