Private Harbour Investment Management & Counsel LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Private Harbour Investment Management & Counsel LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,917 shares of the company’s stock after selling 327 shares during the quarter. PepsiCo makes up approximately 1.7% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 24th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in PepsiCo were worth $1,508,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its position in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Finally, Guinness Asset Management LTD grew its position in PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after purchasing an additional 61,541 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group decreased their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. Finally, Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Down 0.6 %

Shares of PepsiCo stock opened at $145.54 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company’s fifty day moving average is $149.09 and its two-hundred day moving average is $158.50. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market capitalization of $199.61 billion, a P/E ratio of 20.94, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.