Marble Harbor Investment Counsel LLC Boosts Holdings in PepsiCo, Inc. $PEP

Marble Harbor Investment Counsel LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 87,298 shares of the company’s stock after purchasing an additional 1,290 shares during the quarter. PepsiCo comprises about 1.3% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 27th biggest holding. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $11,527,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEP. Accredited Investors Inc. increased its position in shares of PepsiCo by 1.7% during the second quarter. Accredited Investors Inc. now owns 9,521 shares of the company’s stock valued at $1,257,000 after acquiring an additional 163 shares in the last quarter. Kelleher Financial Advisors boosted its stake in PepsiCo by 7.0% during the 2nd quarter. Kelleher Financial Advisors now owns 6,749 shares of the company’s stock valued at $891,000 after purchasing an additional 443 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of PepsiCo by 2.6% in the second quarter. United Asset Strategies Inc. now owns 21,463 shares of the company’s stock worth $2,834,000 after purchasing an additional 551 shares during the last quarter. Tobam raised its stake in shares of PepsiCo by 42.8% in the second quarter. Tobam now owns 1,969 shares of the company’s stock worth $260,000 after purchasing an additional 590 shares during the last quarter. Finally, Quinn Opportunity Partners LLC bought a new position in shares of PepsiCo during the second quarter valued at $9,381,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEP. Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research note on Thursday, October 23rd. Rothschild & Co Redburn increased their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a report on Tuesday, October 21st. Finally, Citigroup decreased their target price on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $145.08 on Wednesday. The stock has a market cap of $198.37 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock’s fifty day moving average is $145.08 and its 200 day moving average is $139.84. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $166.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

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.