Oak Harvest Investment Services Buys 15,459 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Oak Harvest Investment Services boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.0% in the third quarter, Holdings Channel reports. The institutional investor owned 68,785 shares of the company’s stock after purchasing an additional 15,459 shares during the period. PepsiCo accounts for approximately 1.7% of Oak Harvest Investment Services’ portfolio, making the stock its 15th biggest position. Oak Harvest Investment Services’ holdings in PepsiCo were worth $11,697,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PEP. Meixler Investment Management Ltd. grew its position in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC lifted its position in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Bank of Stockton lifted its holdings in PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 0.8 %

PEP opened at $166.21 on Thursday. 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 stock’s 50 day moving average price is $173.43 and its 200-day moving average price is $172.25. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The stock has a market cap of $228.50 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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 during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, equities 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.