Pine Harbor Wealth Management LLC Has $324,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pine Harbor Wealth Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,964 shares of the company’s stock after purchasing an additional 137 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in PepsiCo were worth $324,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares in the last quarter. V Square Quantitative Management LLC boosted its position in PepsiCo by 1.1% during the first quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after purchasing an additional 180 shares during the last quarter. Norden Group LLC grew its stake in PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares in the last quarter. Marion Wealth Management raised its stake in shares of PepsiCo by 6.3% during the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after purchasing an additional 494 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after buying an additional 11,485 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PEP shares. Bank of America dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Jefferies Financial Group cut their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Price Performance

NASDAQ:PEP opened at $177.36 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market cap of $243.62 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The firm’s 50-day simple moving average is $172.37 and its 200 day simple moving average is $171.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s payout ratio is 78.66%.

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.