Kennon Green & Company LLC Sells 1,624 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kennon Green & Company LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,186 shares of the company’s stock after selling 1,624 shares during the period. PepsiCo makes up 1.8% of Kennon Green & Company LLC’s holdings, making the stock its 24th largest position. Kennon Green & Company LLC’s holdings in PepsiCo were worth $1,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock valued at $3,121,736,000 after purchasing an additional 920,032 shares in the last quarter. Northern Trust Corp increased its position in shares of PepsiCo by 3.7% during the 3rd quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after purchasing an additional 595,357 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in PepsiCo by 9.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock worth $1,239,629,000 after purchasing an additional 608,321 shares in the last quarter. Finally, Deutsche Bank AG grew its position in PepsiCo by 2.1% in the 3rd quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock valued at $1,147,922,000 after acquiring an additional 142,243 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock traded down $0.06 during mid-day trading on Monday, hitting $175.52. The stock had a trading volume of 1,907,296 shares, compared to its average volume of 5,806,154. The firm has a market cap of $241.30 billion, a PE ratio of 26.46, a PEG ratio of 2.86 and a beta of 0.53. The company’s 50-day simple moving average is $169.40 and its 200-day simple moving average is $167.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.265 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 annualized dividend and a dividend yield of 2.88%. PepsiCo’s payout ratio is currently 76.09%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PEP shares. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Finally, Barclays upped their price target on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

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.