Marble Harbor Investment Counsel LLC Sells 4,775 Shares of PepsiCo, Inc. $PEP

Marble Harbor Investment Counsel LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 82,523 shares of the company’s stock after selling 4,775 shares during the period. PepsiCo comprises 1.2% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 25th biggest position. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $11,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Clayton Financial Group LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $872,000. Avantax Advisory Services Inc. increased its holdings in PepsiCo by 2.6% during the second quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after buying an additional 4,627 shares during the period. Family Capital Management Inc. purchased a new stake in PepsiCo during the second quarter worth $401,000. Kathmere Capital Management LLC boosted its position in PepsiCo by 122.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock valued at $2,860,000 after acquiring an additional 11,217 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of PepsiCo by 9.7% in the 2nd quarter. Pinnacle Associates Ltd. now owns 152,193 shares of the company’s stock valued at $20,096,000 after acquiring an additional 13,517 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 2.4%

PepsiCo stock opened at $161.92 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.67. The stock has a market capitalization of $221.29 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.16 and a beta of 0.40. The business has a 50 day simple moving average of $150.36 and a 200-day simple moving average of $147.51. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The company had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.96 billion. During the same period in the previous year, the business earned $1.96 EPS. PepsiCo’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a yield of 3.5%. PepsiCo’s dividend payout ratio is presently 94.83%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of analyst reports. Citigroup upped their price objective on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. Jefferies Financial Group increased their target price on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. Finally, Loop Capital set a $164.00 target price on PepsiCo in a research note on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $167.83.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.