Harbour Capital Advisors LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Harbour Capital Advisors LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 20.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,265 shares of the company’s stock after selling 5,585 shares during the period. Harbour Capital Advisors LLC’s holdings in PepsiCo were worth $3,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $28,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo in the 4th quarter worth about $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the 4th quarter valued at about $31,000. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of PepsiCo in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.0%

Shares of PepsiCo stock opened at $129.09 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The firm has a market capitalization of $176.99 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.46. The stock’s fifty day moving average is $132.83 and its 200-day moving average is $143.63.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned $1.61 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio is 83.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. UBS Group decreased their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.69.

PepsiCo Company 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.