Harvest Investment Services LLC Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Harvest Investment Services LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,734 shares of the company’s stock after purchasing an additional 601 shares during the period. Harvest Investment Services LLC’s holdings in PepsiCo were worth $416,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Collier Financial bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo in the fourth quarter worth about $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $143.46 on Wednesday. PepsiCo, Inc. has a one year low of $138.33 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock’s fifty day simple moving average is $148.10 and its 200 day simple moving average is $154.48. The firm has a market cap of $196.73 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the company earned $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Evercore ISI decreased their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America restated a “neutral” rating and set a $155.00 target price (down from $185.00) on shares of PepsiCo in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $167.24.

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.