Keene & Associates Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Keene & Associates Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,941 shares of the company’s stock after selling 87 shares during the period. PepsiCo makes up about 2.5% of Keene & Associates Inc.’s holdings, making the stock its 24th largest holding. Keene & Associates Inc.’s holdings in PepsiCo were worth $3,124,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Flossbach Von Storch AG boosted its position in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the period. PineStone Asset Management Inc. raised its stake 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 valued at $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Van ECK Associates Corp increased its holdings in PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the period. Finally, Confluence Investment Management LLC acquired a new stake in PepsiCo in the 1st quarter valued at about $166,243,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.1 %

PEP stock opened at $177.36 on Monday. The company has a market cap of $243.62 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The company has a fifty day moving average price of $172.37 and a 200 day moving average price of $171.48. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEP shares. Bank of America cut their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Barclays raised their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, TD Cowen dropped their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.53.

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.