Oak Harvest Investment Services Increases Stock Holdings in PepsiCo, Inc. $PEP

Oak Harvest Investment Services raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 96.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,190 shares of the company’s stock after buying an additional 24,585 shares during the quarter. Oak Harvest Investment Services’ holdings in PepsiCo were worth $7,049,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEP. Claris Advisors LLC MO raised its position in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. grew its stake in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after buying an additional 229 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after buying an additional 36,239 shares during the period. Fulton Bank N.A. lifted its stake in PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after acquiring an additional 620 shares in the last quarter. Finally, Clayton Financial Group LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $872,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3%

NASDAQ:PEP opened at $144.24 on Tuesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The stock has a market cap of $197.23 billion, a P/E ratio of 27.42, a P/E/G ratio of 4.96 and a beta of 0.42. The stock has a 50-day simple moving average of $147.09 and a 200-day simple moving average of $143.59.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s payout ratio is 108.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. BNP Paribas Exane cut their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research note on Tuesday, October 21st. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Finally, UBS Group reiterated a “buy” rating and issued a $172.00 price objective on shares of PepsiCo in a research note on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.75.

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.