Marble Harbor Investment Counsel LLC Acquires 97 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Marble Harbor Investment Counsel LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,181 shares of the company’s stock after acquiring an additional 97 shares during the period. PepsiCo makes up 1.7% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 18th largest position. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $14,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Fairfield Financial Advisors LTD bought a new stake in shares of PepsiCo during the 2nd quarter worth $213,000. Brown Brothers Harriman & Co. raised its position in PepsiCo by 3.1% during the second quarter. Brown Brothers Harriman & Co. now owns 186,803 shares of the company’s stock valued at $30,809,000 after purchasing an additional 5,682 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its stake in PepsiCo by 6.4% during the second quarter. Tennessee Valley Asset Management Partners now owns 2,291 shares of the company’s stock worth $378,000 after purchasing an additional 137 shares during the last quarter. Rathbones Group PLC increased its position in shares of PepsiCo by 2.2% during the 2nd quarter. Rathbones Group PLC now owns 548,003 shares of the company’s stock valued at $90,382,000 after purchasing an additional 11,765 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC lifted its position in PepsiCo by 7.5% in the 2nd quarter. Pine Harbor Wealth Management LLC now owns 1,964 shares of the company’s stock worth $324,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Barclays boosted their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Performance

NASDAQ:PEP opened at $177.36 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm’s fifty day simple moving average is $172.37 and its 200 day simple moving average is $171.48. The stock has a market cap 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. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s payout ratio is 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.