Harvest Portfolios Group Inc. Has $17.42 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Harvest Portfolios Group Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 102,449 shares of the company’s stock after acquiring an additional 3,301 shares during the period. Harvest Portfolios Group Inc.’s holdings in PepsiCo were worth $17,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hemenway Trust Co LLC raised its holdings in PepsiCo by 1.8% during the first quarter. Hemenway Trust Co LLC now owns 13,327 shares of the company’s stock worth $2,332,000 after acquiring an additional 240 shares in the last quarter. First Long Island Investors LLC raised its stake in shares of PepsiCo by 42.7% during the 1st quarter. First Long Island Investors LLC now owns 99,050 shares of the company’s stock worth $17,335,000 after purchasing an additional 29,659 shares in the last quarter. Broderick Brian C boosted its holdings in shares of PepsiCo by 5.6% in the 1st quarter. Broderick Brian C now owns 23,442 shares of the company’s stock valued at $4,103,000 after buying an additional 1,250 shares during the last quarter. Cohen Capital Management Inc. increased its holdings in PepsiCo by 0.3% during the first quarter. Cohen Capital Management Inc. now owns 89,813 shares of the company’s stock worth $15,718,000 after buying an additional 292 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.3 %

Shares of PEP opened at $168.40 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $231.04 billion, a PE ratio of 24.76, a P/E/G ratio of 3.09 and a beta of 0.53. The firm’s 50 day moving average is $172.69 and its 200-day moving average is $172.16. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

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.