Harbor Capital Advisors Inc. Buys 92 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Harbor Capital Advisors Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,119 shares of the company’s stock after acquiring an additional 92 shares during the period. Harbor Capital Advisors Inc.’s holdings in PepsiCo were worth $3,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter worth about $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter valued at about $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo in the 2nd quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 0.3 %

PEP stock opened at $165.59 on Monday. The business has a 50-day moving average of $173.03 and a 200-day moving average of $172.25. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market capitalization of $227.19 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for 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. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.92.

Get Our Latest Report on PEP

About PepsiCo

(Free Report)

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.

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