Harbour Capital Advisors LLC lifted its position in shares of Pepsico, Inc. (NYSE:PEP) by 11,316.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,183,685 shares of the company’s stock after purchasing an additional 2,164,557 shares during the quarter. Harbour Capital Advisors LLC owned about 0.15% of Pepsico worth $18,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DnB Asset Management AS raised its stake in Pepsico by 20.2% during the first quarter. DnB Asset Management AS now owns 204,312 shares of the company’s stock valued at $22,854,000 after buying an additional 34,400 shares during the last quarter. Bank of The West raised its stake in Pepsico by 4.3% during the first quarter. Bank of The West now owns 46,202 shares of the company’s stock valued at $5,168,000 after buying an additional 1,902 shares during the last quarter. Benin Management CORP raised its stake in Pepsico by 3.0% during the first quarter. Benin Management CORP now owns 113,982 shares of the company’s stock valued at $12,750,000 after buying an additional 3,372 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Pepsico by 0.3% during the first quarter. Patten & Patten Inc. TN now owns 55,453 shares of the company’s stock valued at $6,203,000 after buying an additional 162 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Pepsico by 3.0% during the first quarter. Nisa Investment Advisors LLC now owns 489,956 shares of the company’s stock valued at $54,806,000 after buying an additional 14,045 shares during the last quarter. Institutional investors own 70.31% of the company’s stock.

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In related news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold a total of 919,613 shares of company stock valued at $106,956,258 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Pepsico, Inc. (NYSE:PEP) opened at 113.57 on Tuesday. The stock has a 50 day moving average price of $113.18 and a 200 day moving average price of $114.74. The stock has a market cap of $161.51 billion, a PE ratio of 23.47 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39.

Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, analysts predict that Pepsico, Inc. will post $5.23 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reiterated an “outperform” rating and set a $128.00 price objective on shares of Pepsico in a research note on Thursday, July 13th. BMO Capital Markets reiterated a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Credit Suisse Group reiterated a “hold” rating and set a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $116.00 price objective on shares of Pepsico in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Pepsico presently has an average rating of “Buy” and a consensus target price of $121.35.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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