Harvest Portfolios Group Inc. Grows Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Harvest Portfolios Group Inc. increased its stake in PepsiCo by 15.0%, owning a total of 127,743 shares valued at approximately $19.15 million as of the end of the last quarter.
• PepsiCo reported earnings of $2.12 per share for the quarter, exceeding expectations, and achieved revenue of $22.73 billion, marking a 1.0% year-over-year increase.
• The company announced a quarterly dividend of $1.4225 per share to be paid on September 30th, with an annualized dividend yield of 3.8%.

Harvest Portfolios Group Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,743 shares of the company's stock after buying an additional 16,653 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in PepsiCo were worth $19,154,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC lifted its position in PepsiCo by 4.2% in 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 during the period. Graybill Wealth Management LTD. acquired a new stake in shares of PepsiCo during the 1st quarter valued at approximately $3,633,000. OMERS ADMINISTRATION Corp lifted its position in shares of PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PepsiCo by 2.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock valued at $40,624,000 after acquiring an additional 6,112 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $148.20 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $202.90 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.99 and a beta of 0.45. The firm's fifty day simple moving average is $139.66 and its 200 day simple moving average is $140.62. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo's payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PEP shares. Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Morgan Stanley lifted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of "Hold" and an average price target of $158.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.