Pepsico, Inc. (PEP) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC lessened its position in Pepsico, Inc. (NYSE:PEP) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,892 shares of the company’s stock after selling 1,250 shares during the quarter. Pepsico makes up about 2.3% of Harvey Investment Co. LLC’s holdings, making the stock its 20th biggest holding. Harvey Investment Co. LLC’s holdings in Pepsico were worth $11,688,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Barnett & Company Inc. increased its stake in Pepsico by 270.4% in the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after buying an additional 657 shares during the period. Aviance Capital Management LLC acquired a new position in Pepsico in the 2nd quarter valued at approximately $111,000. Asset Planning Services Ltd. increased its stake in Pepsico by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Pepsico by 5.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock valued at $138,000 after buying an additional 67 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its stake in Pepsico by 14.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 70.08% of the company’s stock.

Shares of Pepsico, Inc. (NYSE PEP) opened at $118.05 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market cap of $169,526.55, a price-to-earnings ratio of 23.28, a P/E/G ratio of 3.35 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.74.

Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio is currently 66.53%.

In related news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Tuesday, August 22nd. Deutsche Bank assumed coverage on shares of Pepsico in a research note on Wednesday, December 13th. They set a “buy” rating and a $132.00 price target on the stock. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $124.00 in a research note on Friday, September 8th. Royal Bank of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Finally, BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $122.73.

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Pepsico Company Profile

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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