Oak Harvest Investment Services Purchases 9,502 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Oak Harvest Investment Services raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,136 shares of the company’s stock after acquiring an additional 9,502 shares during the quarter. Oak Harvest Investment Services’ holdings in PepsiCo were worth $7,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Amplius Wealth Advisors LLC increased its holdings in PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after buying an additional 60 shares during the period. Sugarloaf Wealth Management LLC lifted its position in PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after acquiring an additional 61 shares during the period. SYM FINANCIAL Corp grew its stake in PepsiCo by 2.7% during the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC raised its stake in shares of PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. boosted its position in PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after buying an additional 61 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.6 %

Shares of NASDAQ PEP traded down $0.98 during mid-day trading on Thursday, reaching $162.60. 2,879,575 shares of the company’s stock were exchanged, compared to its average volume of 5,397,682. The firm has a market capitalization of $223.54 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.69 and a beta of 0.52. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $192.38. The company’s 50-day moving average is $172.65 and its 200-day moving average is $170.19. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PEP shares. Barclays reduced their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Jefferies Financial Group raised their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Finally, Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Profile

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.