Harvey Investment Co. LLC Sells 2,320 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Harvey Investment Co. LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,134 shares of the company's stock after selling 2,320 shares during the quarter. PepsiCo accounts for approximately 1.5% of Harvey Investment Co. LLC's investment portfolio, making the stock its 24th biggest holding. Harvey Investment Co. LLC's holdings in PepsiCo were worth $13,665,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Ossiam increased its stake in PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after buying an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after buying an additional 13,461 shares during the last quarter. Hutner Capital Management Inc. increased its stake in PepsiCo by 14.6% in the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock valued at $8,178,000 after buying an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in PepsiCo in the 4th quarter valued at about $47,899,000. Finally, Inspire Trust Co. N.A. increased its stake in shares of PepsiCo by 39.2% during the 4th quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company's stock worth $2,604,000 after purchasing an additional 4,825 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada restated a "sector perform" rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Bank of America decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Price Performance

PEP opened at $129.07 on Friday. The company has a fifty day moving average price of $133.19 and a 200-day moving average price of $143.95. The firm has a market capitalization of $176.97 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, June 6th. PepsiCo's payout ratio is 83.68%.

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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