Marble Harbor Investment Counsel LLC Raises Stock Position in PepsiCo, Inc. $PEP

Marble Harbor Investment Counsel LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 87,298 shares of the company’s stock after acquiring an additional 1,290 shares during the period. PepsiCo accounts for about 1.3% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 27th largest position. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $11,527,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEP. Vanguard Group Inc. boosted its stake in PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after buying an additional 1,258,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after acquiring an additional 208,292 shares during the last quarter. Invesco Ltd. grew its stake in PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after acquiring an additional 491,894 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in PepsiCo by 14.3% in the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock valued at $1,393,846,000 after acquiring an additional 1,165,745 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research reports. Bank of America increased their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Morgan Stanley increased their price target on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Jefferies Financial Group lifted their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Piper Sandler increased their target price on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Finally, Evercore ISI raised their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Trading Up 1.7%

PEP stock opened at $145.08 on Wednesday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $166.88. The stock has a market capitalization of $198.37 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm’s fifty day simple moving average is $145.08 and its two-hundred day simple moving average is $139.84.

PepsiCo (NASDAQ:PEP) last released 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. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

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.