Harbour Investments Inc. Buys 962 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Harbour Investments Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,053 shares of the company’s stock after purchasing an additional 962 shares during the quarter. Harbour Investments Inc.’s holdings in PepsiCo were worth $4,627,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its position in shares of PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares in the last quarter. V Square Quantitative Management LLC grew 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 worth $2,870,000 after buying an additional 180 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in PepsiCo by 4.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,002,267 shares of the company’s stock worth $175,407,000 after acquiring an additional 43,296 shares during the period. Norden Group LLC lifted its position in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of PepsiCo by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,198,304 shares of the company’s stock worth $373,360,000 after purchasing an additional 143,103 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America cut their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Barclays lifted their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Royal Bank of Canada lowered their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $185.53.

PepsiCo Price Performance

PEP traded down $0.67 on Tuesday, reaching $175.30. The stock had a trading volume of 3,519,746 shares, compared to its average volume of 5,447,823. The firm has a 50-day moving average of $169.55 and a 200-day moving average of $170.75. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a market capitalization of $241.00 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.09%. PepsiCo’s dividend 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.