Kennedy Investment Group Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Kennedy Investment Group decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,387 shares of the company’s stock after selling 219 shares during the quarter. Kennedy Investment Group’s holdings in PepsiCo were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Flossbach Von Storch AG grew its stake in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Swedbank AB grew its position in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp boosted its stake in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after buying an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

Shares of NASDAQ:PEP traded up $0.49 on Monday, hitting $175.55. 2,289,191 shares of the company’s stock were exchanged, compared to its average volume of 5,479,053. The business’s 50 day simple moving average is $173.78 and its two-hundred day simple moving average is $172.15. 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 has a market capitalization of $241.34 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.09%. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.