PepsiCo, Inc. $PEP Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,523 shares of the company’s stock after selling 4,775 shares during the quarter. PepsiCo makes up approximately 1.2% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 25th biggest position. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $11,590,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC grew its position in shares of PepsiCo by 22,293.5% in the 3rd quarter. Fortis Group Advisors LLC now owns 10,301 shares of the company’s stock valued at $1,505,000 after buying an additional 10,255 shares during the last quarter. Drucker Wealth 3.0 LLC boosted its stake in PepsiCo by 282.6% in the third quarter. Drucker Wealth 3.0 LLC now owns 10,731 shares of the company’s stock valued at $1,507,000 after acquiring an additional 7,926 shares in the last quarter. Beirne Wealth Consulting Services LLC acquired a new stake in shares of PepsiCo during the third quarter worth about $264,000. Crestwood Advisors Group LLC lifted its holdings in shares of PepsiCo by 179.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 194,633 shares of the company’s stock valued at $27,334,000 after purchasing an additional 124,994 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its position in shares of PepsiCo by 65.8% in the 3rd quarter. NEOS Investment Management LLC now owns 577,111 shares of the company’s stock valued at $81,049,000 after purchasing an additional 229,121 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $161.92 on Wednesday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The stock has a market cap of $221.29 billion, a P/E ratio of 26.99, a PEG ratio of 3.16 and a beta of 0.40. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average of $150.36 and a two-hundred day moving average of $147.51.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The firm had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. During the same quarter last year, the business earned $1.96 earnings per share. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 annualized dividend and a yield of 3.5%. PepsiCo’s payout ratio is 94.83%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group reiterated a “buy” rating and set a $190.00 price target on shares of PepsiCo in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. JPMorgan Chase & Co. boosted their price target on PepsiCo from $164.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Barclays lifted their target price on PepsiCo from $148.00 to $160.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Citigroup upped their price target on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $167.83.

PepsiCo Company 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.