KPP Advisory Services LLC Sells 3,394 Shares of PepsiCo, Inc. $PEP

KPP Advisory Services LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 33.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,609 shares of the company’s stock after selling 3,394 shares during the quarter. KPP Advisory Services LLC’s holdings in PepsiCo were worth $928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after purchasing an additional 1,761,785 shares during the period. State Street Corp increased its stake in PepsiCo by 1.6% in the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after buying an additional 920,045 shares during the period. Geode Capital Management LLC boosted its position in PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after buying an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after acquiring an additional 2,556,163 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PepsiCo during the second quarter worth approximately $2,330,594,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Jefferies Financial Group increased their price target on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. BNP Paribas Exane upgraded PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price objective for the company in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Price Performance

Shares of PEP stock opened at $148.78 on Wednesday. The stock’s 50-day moving average is $145.71 and its 200 day moving average is $145.28. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company has a market cap of $203.43 billion, a P/E ratio of 28.29, a PEG ratio of 4.78 and a beta of 0.42.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a $1.4225 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is presently 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.