Pine Harbor Wealth Management LLC Has $324,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pine Harbor Wealth Management LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,964 shares of the company’s stock after buying an additional 137 shares during the period. Pine Harbor Wealth Management LLC’s holdings in PepsiCo were worth $324,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PEP. Valued Wealth Advisors LLC increased its position in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $30,000. Fortis Group Advisors LLC lifted its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEP. Morgan Stanley dropped their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Barclays lifted their price target on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Up 0.1 %

Shares of PepsiCo stock opened at $177.36 on Friday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company has a market capitalization of $243.62 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The business has a 50-day moving average of $172.37 and a two-hundred day moving average of $171.45.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

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.