Harbour Capital Advisors LLC Acquires 145 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Harbour Capital Advisors LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,591 shares of the company’s stock after acquiring an additional 145 shares during the quarter. PepsiCo makes up 1.2% of Harbour Capital Advisors LLC’s portfolio, making the stock its 22nd biggest position. Harbour Capital Advisors LLC’s holdings in PepsiCo were worth $4,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Insight Partners LLC raised its holdings in PepsiCo by 4.1% in the first quarter. Capital Insight Partners LLC now owns 22,916 shares of the company’s stock worth $4,011,000 after purchasing an additional 903 shares in the last quarter. Tevis Investment Management increased its holdings in shares of PepsiCo by 12.9% during the first quarter. Tevis Investment Management now owns 7,110 shares of the company’s stock valued at $1,244,000 after acquiring an additional 810 shares in the last quarter. Norwood Financial Corp increased its holdings in shares of PepsiCo by 9.9% during the first quarter. Norwood Financial Corp now owns 2,225 shares of the company’s stock valued at $389,000 after acquiring an additional 200 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of PepsiCo by 2.1% during the first quarter. Pinnacle Bancorp Inc. now owns 7,366 shares of the company’s stock valued at $1,289,000 after acquiring an additional 150 shares in the last quarter. Finally, Sendero Wealth Management LLC increased its holdings in shares of PepsiCo by 1.4% during the first quarter. Sendero Wealth Management LLC now owns 20,974 shares of the company’s stock valued at $3,671,000 after acquiring an additional 294 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PEP shares. Wedbush restated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Jefferies Financial Group raised their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. raised their price target on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Finally, Barclays reduced their price objective on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.38.

PepsiCo Stock Down 0.8 %

NASDAQ PEP opened at $164.93 on Friday. The stock’s 50 day moving average is $173.37 and its 200 day moving average is $170.30. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The stock has a market cap of $226.74 billion, a PE ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the previous year, the firm earned $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. PepsiCo’s payout ratio is presently 81.50%.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.