K.J. Harrison & Partners Inc Reduces Stake in Pepsico, Inc. (NYSE:PEP)

K.J. Harrison & Partners Inc lowered its position in Pepsico, Inc. (NYSE:PEP) by 19.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,256 shares of the company’s stock after selling 2,494 shares during the period. K.J. Harrison & Partners Inc’s holdings in Pepsico were worth $1,147,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PEP. Gierl Augustine Investment Management Inc raised its position in shares of Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares in the last quarter. Univest Corp of Pennsylvania raised its position in shares of Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares in the last quarter. Alexandria Capital LLC raised its position in shares of Pepsico by 0.5% in the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock worth $465,000 after buying an additional 21 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Pepsico by 0.6% in the first quarter. Clear Harbor Asset Management LLC now owns 4,159 shares of the company’s stock worth $465,000 after buying an additional 26 shares in the last quarter. Finally, Nadler Financial Group Inc. raised its position in shares of Pepsico by 0.5% in the first quarter. Nadler Financial Group Inc. now owns 6,354 shares of the company’s stock worth $711,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.

Shares of Pepsico, Inc. (NYSE:PEP) opened at 116.63 on Friday. The firm’s 50-day moving average is $116.09 and its 200 day moving average is $111.40. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24. The company has a market capitalization of $166.26 billion, a price-to-earnings ratio of 24.70 and a beta of 0.67. Pepsico also was the target of unusually large options trading on Wednesday. Traders acquired 1,176 call options on the stock. This represents an increase of 536% compared to the average daily volume of 185 call options.

Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Pepsico, Inc. will post $5.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.76%. Pepsico’s payout ratio is 68.22%.

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A number of brokerages have weighed in on PEP. Jefferies Group LLC increased their target price on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. UBS AG upgraded shares of Pepsico from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 12th. BMO Capital Markets lowered shares of Pepsico from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research report on Thursday, May 25th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $133.00 price objective (down from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $123.04.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

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Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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