Harvest Fund Management Co. Ltd Has $10.76 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Harvest Fund Management Co. Ltd boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 52.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 63,271 shares of the company’s stock after acquiring an additional 21,671 shares during the period. PepsiCo comprises 0.6% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 28th biggest position. Harvest Fund Management Co. Ltd’s holdings in PepsiCo were worth $10,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEP. Kennedy Capital Management LLC bought a new position in PepsiCo during the 1st quarter worth $4,342,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of PepsiCo by 4.0% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,349 shares of the company’s stock worth $586,000 after purchasing an additional 128 shares in the last quarter. Sweeney & Michel LLC acquired a new position in PepsiCo in the first quarter valued at about $754,000. Dynasty Wealth Management LLC bought a new stake in PepsiCo during the first quarter worth about $2,269,000. Finally, Ancora Advisors LLC grew its stake in PepsiCo by 1.0% during the first quarter. Ancora Advisors LLC now owns 81,464 shares of the company’s stock worth $14,257,000 after buying an additional 817 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $162.00 on Monday. The company has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The stock has a fifty day simple moving average of $169.01 and a 200 day simple moving average of $170.89.

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

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from 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.