Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in PepsiCo Inc. (NYSE:PEP) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 58,321 shares of the company’s stock, valued at approximately $6,179,000. PepsiCo comprises about 0.8% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 24th largest position.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. D. Scott Neal Inc. boosted its position in PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the period. Piershale Financial Group Inc. boosted its position in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the period. Delphi Private Advisors LLC boosted its position in PepsiCo by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock valued at $106,000 after buying an additional 13 shares during the period. Global X Management Co. LLC boosted its position in PepsiCo by 92.1% in the second quarter. Global X Management Co. LLC now owns 1,101 shares of the company’s stock valued at $117,000 after buying an additional 528 shares during the period. Finally, Stelac Advisory Services LLC boosted its position in PepsiCo by 13.9% in the second quarter. Stelac Advisory Services LLC now owns 1,185 shares of the company’s stock valued at $126,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.31% during midday trading on Friday, hitting $101.31. 4,919,150 shares of the stock were exchanged. The stock has a market capitalization of $145.30 billion, a price-to-earnings ratio of 22.23 and a beta of 0.54. The firm’s 50 day moving average is $106.65 and its 200-day moving average is $105.92. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business had revenue of $16 billion for the quarter. During the same quarter last year, the firm posted $1.35 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that PepsiCo Inc. will post $4.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 2nd will be given a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, November 30th. PepsiCo’s dividend payout ratio is 66.01%.
PEP has been the subject of several research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Monday, October 3rd. Bank of America Corp. reiterated a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research report on Friday, September 30th. Credit Suisse Group AG reiterated a “buy” rating and set a $122.00 target price on shares of PepsiCo in a research report on Friday, September 30th. Jefferies Group reiterated a “buy” rating and set a $122.00 target price (down previously from $124.00) on shares of PepsiCo in a research report on Friday, September 30th. Finally, Vetr upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price for the company in a research report on Wednesday, September 7th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $113.77.
About PepsiCo
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.