Harbour Capital Advisors LLC Has $4.17 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Harbour Capital Advisors LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 27,850 shares of the company’s stock after selling 375 shares during the period. PepsiCo makes up approximately 0.9% of Harbour Capital Advisors LLC’s portfolio, making the stock its 27th largest position. Harbour Capital Advisors LLC’s holdings in PepsiCo were worth $4,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Oppenheimer Asset Management Inc. boosted its holdings in shares of PepsiCo by 20.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 76,818 shares of the company’s stock valued at $12,670,000 after buying an additional 13,134 shares during the last quarter. Prosperity Consulting Group LLC grew its position in shares of PepsiCo by 9.9% in the 2nd quarter. Prosperity Consulting Group LLC now owns 6,777 shares of the company’s stock valued at $1,118,000 after acquiring an additional 613 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of PepsiCo by 46.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 20,383 shares of the company’s stock valued at $3,362,000 after purchasing an additional 6,477 shares during the period. Lyell Wealth Management LP lifted its stake in PepsiCo by 8.3% in the 2nd quarter. Lyell Wealth Management LP now owns 30,836 shares of the company’s stock valued at $5,086,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Hoge Financial Services LLC increased its position in PepsiCo by 6.1% during the second quarter. Hoge Financial Services LLC now owns 3,225 shares of the company’s stock worth $532,000 after buying an additional 184 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.64.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $2.25 during trading hours on Monday, hitting $144.89. 4,559,206 shares of the stock were exchanged, compared to its average volume of 6,826,613. The company’s fifty day simple moving average is $157.35 and its two-hundred day simple moving average is $166.50. The company has a market cap of $198.79 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. PepsiCo’s payout ratio is 79.94%.

About PepsiCo

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.