Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,668 shares of the company’s stock after selling 3,674 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PepsiCo were worth $6,916,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the second quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $158.62 on Friday. The stock has a 50 day moving average of $170.82 and a two-hundred day moving average of $171.56. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The firm has a market cap of $217.63 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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

Analyst Ratings Changes

Several research firms have recently commented on PEP. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

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.