Harbour Trust & Investment Management Co Sells 1,035 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Harbour Trust & Investment Management Co cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the third quarter, HoldingsChannel reports. The firm owned 80,881 shares of the company’s stock after selling 1,035 shares during the period. PepsiCo accounts for approximately 1.6% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 17th biggest holding. Harbour Trust & Investment Management Co’s holdings in PepsiCo were worth $13,754,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Brookstone Capital Management boosted its holdings in PepsiCo by 12.3% during the first quarter. Brookstone Capital Management now owns 34,648 shares of the company’s stock valued at $6,064,000 after acquiring an additional 3,794 shares during the period. Cypress Wealth Services LLC boosted its holdings in PepsiCo by 37.3% during the first quarter. Cypress Wealth Services LLC now owns 2,572 shares of the company’s stock valued at $450,000 after acquiring an additional 699 shares during the period. Hennessy Advisors Inc. bought a new stake in PepsiCo during the first quarter valued at about $5,495,000. Pinnacle Bancorp Inc. boosted its holdings in PepsiCo by 2.1% during the first quarter. Pinnacle Bancorp Inc. now owns 7,366 shares of the company’s stock valued at $1,289,000 after acquiring an additional 150 shares during the period. Finally, Norwood Financial Corp boosted its holdings in PepsiCo by 9.9% during the first quarter. Norwood Financial Corp now owns 2,225 shares of the company’s stock valued at $389,000 after acquiring an additional 200 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PEP. Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of PEP stock opened at $172.16 on Friday. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock has a market cap of $236.68 billion, a PE ratio of 24.99, a PEG ratio of 3.25 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50 day moving average price is $173.88 and its two-hundred day moving average price is $172.23.

PepsiCo (NASDAQ:PEP) last announced 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 firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS 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.