Harbor Investment Advisory LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Harbor Investment Advisory LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,101 shares of the company’s stock after selling 3,954 shares during the period. Harbor Investment Advisory LLC’s holdings in PepsiCo were worth $3,868,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PEP. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Life Planning Partners Inc purchased a new position in PepsiCo in the fourth quarter worth about $34,000. Naples Money Management LLC purchased a new position in PepsiCo in the fourth quarter worth about $36,000. Finally, Criterion Capital Advisors LLC purchased a new position in PepsiCo in the fourth quarter worth about $39,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction 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 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP traded up $0.80 during trading hours on Monday, hitting $168.08. 4,476,309 shares of the company’s stock traded hands, compared to its average volume of 5,518,110. The business’s fifty day moving average price is $173.71 and its two-hundred day moving average price is $170.36. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $231.07 billion, a P/E ratio of 25.15, a P/E/G ratio of 2.72 and a beta of 0.52. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38.

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

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s dividend payout ratio is presently 81.50%.

Analyst Ratings Changes

Several research analysts have issued reports on PEP shares. BNP Paribas started coverage on shares of PepsiCo in a report on Monday. They issued a “neutral” rating and a $174.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $186.15.

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.