Oak Harvest Investment Services Has $11.70 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Oak Harvest Investment Services boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 29.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,785 shares of the company’s stock after purchasing an additional 15,459 shares during the period. PepsiCo comprises about 1.7% of Oak Harvest Investment Services’ portfolio, making the stock its 15th largest holding. Oak Harvest Investment Services’ holdings in PepsiCo were worth $11,697,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ:PEP opened at $166.21 on Thursday. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s 50-day moving average is $173.43 and its 200 day moving average is $172.25. The company has a market cap of $228.50 billion, a PE ratio of 24.12, a P/E/G ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Sell-side analysts anticipate 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.