Oak Harvest Investment Services Sells 15,816 Shares of PepsiCo, Inc. $PEP

Oak Harvest Investment Services decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 38.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,605 shares of the company’s stock after selling 15,816 shares during the period. Oak Harvest Investment Services’ holdings in PepsiCo were worth $3,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PEP. Nuveen LLC purchased a new position in PepsiCo in the first quarter valued at about $946,978,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $460,110,000. Acadian Asset Management LLC grew its position in shares of PepsiCo by 175.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock worth $392,076,000 after buying an additional 1,892,469 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on PEP shares. Bank of America lifted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Rothschild & Co Redburn upped their target price on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, BNP Paribas Exane cut their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Trading Up 0.4%

Shares of NASDAQ:PEP opened at $145.02 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $166.88. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 3.56 and a beta of 0.45. The business has a 50-day moving average price of $144.96 and a 200-day moving average price of $139.91.

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