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

Harvest Portfolios Group Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,332 shares of the company’s stock after buying an additional 7,589 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in PepsiCo were worth $17,869,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after buying an additional 1,258,198 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PepsiCo by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock valued at $1,728,180,000 after acquiring an additional 208,292 shares during the last quarter. Invesco Ltd. grew its position in PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after acquiring an additional 491,894 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in PepsiCo by 9.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,878,718 shares of the company’s stock worth $1,631,155,000 after acquiring an additional 923,766 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.9%

NASDAQ:PEP opened at $141.58 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market capitalization of $193.59 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $166.88. The stock has a 50-day simple moving average of $145.42 and a 200 day simple moving average of $139.74.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BNP Paribas Exane decreased their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. UBS Group cut their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. Finally, The Goldman Sachs Group raised their price objective on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $156.95.

About PepsiCo

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.