Kennedy Investment Group Sells 219 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kennedy Investment Group decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,387 shares of the company’s stock after selling 219 shares during the quarter. Kennedy Investment Group’s holdings in PepsiCo were worth $1,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealth Advisory Solutions LLC grew its position in shares of PepsiCo by 6.6% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 1,573 shares of the company’s stock worth $267,000 after buying an additional 98 shares during the last quarter. Suncoast Equity Management grew its holdings in PepsiCo by 2.8% in the third quarter. Suncoast Equity Management now owns 14,992 shares of the company’s stock worth $2,549,000 after purchasing an additional 408 shares during the last quarter. Koss Olinger Consulting LLC increased its position in shares of PepsiCo by 35.5% during the third quarter. Koss Olinger Consulting LLC now owns 2,371 shares of the company’s stock worth $403,000 after purchasing an additional 621 shares in the last quarter. Violich Capital Management Inc. boosted its position in shares of PepsiCo by 2.5% in the 3rd quarter. Violich Capital Management Inc. now owns 90,587 shares of the company’s stock worth $15,404,000 after purchasing an additional 2,220 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. grew its stake in PepsiCo by 1,206.0% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 28,523 shares of the company’s stock worth $4,850,000 after buying an additional 26,339 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $0.49 during trading on Monday, hitting $175.55. 2,289,191 shares of the stock traded hands, compared to its average volume of 5,479,053. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average price of $173.78 and a two-hundred day moving average price of $172.15. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a market cap of $241.34 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.28 and a beta of 0.53.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

About PepsiCo

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.