Kennedy Investment Group Purchases 335 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kennedy Investment Group boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,735 shares of the company’s stock after purchasing an additional 335 shares during the period. Kennedy Investment Group’s holdings in PepsiCo were worth $1,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PEP. Clear Investment Research LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at about $25,000. Freedom Wealth Alliance LLC bought a new stake in PepsiCo during the 4th quarter valued at $29,000. Silicon Valley Capital Partners bought a new position in shares of PepsiCo in the fourth quarter valued at $36,000. Carderock Capital Management Inc. bought a new stake in shares of PepsiCo during the first quarter worth about $36,000. Finally, Kepos Capital LP bought a new position in PepsiCo in the 4th quarter valued at about $40,000. 71.40% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.8 %

Shares of NASDAQ PEP opened at $179.68 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The stock has a market capitalization of $247.34 billion, a PE ratio of 31.47, a P/E/G ratio of 2.90 and a beta of 0.54. PepsiCo, Inc. has a one year low of $160.98 and a one year high of $196.88. The business’s fifty day moving average price is $182.85 and its 200-day moving average price is $184.59.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The firm had revenue of $22.32 billion during the quarter, compared to analyst estimates of $21.73 billion. During the same quarter last year, the business earned $1.86 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $5.06 annualized dividend and a dividend yield of 2.82%. PepsiCo’s dividend payout ratio is currently 88.62%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEP. Evercore ISI raised their target price on PepsiCo from $190.00 to $195.00 in a report on Friday, July 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PepsiCo from $193.00 to $195.00 in a report on Friday, July 14th. Royal Bank of Canada raised their price target on shares of PepsiCo from $178.00 to $180.00 in a research report on Friday, July 14th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price objective for the company. in a research report on Monday, July 17th. Finally, Argus lifted their target price on shares of PepsiCo from $206.00 to $212.00 in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $192.00.

PepsiCo Company Profile

PepsiCo, Inc manufactures, markets, distributes, and sells 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.