Harvest Fund Management Co. Ltd Increases Holdings in PepsiCo, Inc. $PEP

Harvest Fund Management Co. Ltd increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,035 shares of the company’s stock after purchasing an additional 19,449 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PepsiCo were worth $14,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo during the 4th quarter worth $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in PepsiCo during the 4th quarter worth $33,000. Evolution Wealth Management Inc. grew its holdings in PepsiCo by 47.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 232 shares of the company’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Finally, Strategic Advocates LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $142.15 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The company’s 50-day moving average price is $152.40 and its 200 day moving average price is $152.58. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The firm has a market cap of $194.29 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.58 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter last year, the company posted $1.48 earnings per share. PepsiCo’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.48 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s dividend payout ratio is 92.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PEP shares. UBS Group dropped their target price on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Evercore boosted their target price on shares of PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of PepsiCo from $165.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $170.11.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.