Kimelman & Baird LLC Lowers Stake in PepsiCo, Inc. $PEP

Kimelman & Baird LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,802 shares of the company’s stock after selling 375 shares during the period. Kimelman & Baird LLC’s holdings in PepsiCo were worth $370,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC increased its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares during the period. Finally, RMG Wealth Management LLC purchased a new position in PepsiCo during the second quarter valued at $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PEP. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. JPMorgan Chase & Co. cut their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Rothschild & Co Redburn raised 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. Royal Bank Of Canada dropped their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Finally, Citigroup decreased their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $156.90.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.50 on Tuesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock’s fifty day moving average is $145.47 and its two-hundred day moving average is $140.69. The firm has a market capitalization of $198.95 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

PepsiCo 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.