PepsiCo, Inc. $PEP Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 104,035 shares of the company’s stock after acquiring an additional 19,449 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PepsiCo were worth $14,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cypress Capital Management LLC WY grew its holdings in PepsiCo by 8.3% in the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock worth $121,000 after buying an additional 64 shares in the last quarter. United Bank grew its holdings in PepsiCo by 3.9% in the 4th quarter. United Bank now owns 1,717 shares of the company’s stock worth $246,000 after buying an additional 65 shares in the last quarter. Koa Wealth Management LLC grew its holdings in PepsiCo by 0.9% in the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock worth $1,149,000 after buying an additional 68 shares in the last quarter. Westside Investment Management Inc. grew its holdings in PepsiCo by 2.8% in the 3rd quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock worth $366,000 after buying an additional 70 shares in the last quarter. Finally, Tiemann Investment Advisors LLC grew its holdings in PepsiCo by 4.0% in the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock worth $254,000 after buying an additional 70 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEP. Piper Sandler increased their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. TD Cowen upped their price target on shares of PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. HSBC upped their price target on shares of PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Wells Fargo & Company reduced their price target on shares of PepsiCo from $165.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $170.11.

PepsiCo Trading Down 0.3%

Shares of NASDAQ:PEP opened at $142.15 on Friday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The firm has a market cap of $194.29 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.58 and a beta of 0.35. The company has a 50 day moving average of $152.40 and a 200-day moving average of $152.58. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is presently 92.94%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.