Kornitzer Capital Management Inc. KS Has $59.17 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Kornitzer Capital Management Inc. KS lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 394,647 shares of the company’s stock after selling 863 shares during the quarter. PepsiCo comprises about 1.2% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 14th biggest position. Kornitzer Capital Management Inc. KS’s holdings in PepsiCo were worth $59,173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PEP. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after buying an additional 11,538 shares during the period. Proficio Capital Partners LLC raised its position in shares of PepsiCo by 22.7% during the fourth quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company’s stock worth $677,000 after purchasing an additional 824 shares during the period. IMG Wealth Management Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth about $73,000. Finally, Cibc World Markets Corp raised its position in shares of PepsiCo by 20.1% during the fourth quarter. Cibc World Markets Corp now owns 523,875 shares of the company’s stock worth $79,660,000 after purchasing an additional 87,501 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $135.57 on Tuesday. The business has a 50-day simple moving average of $131.56 and a two-hundred day simple moving average of $141.38. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The stock has a market cap of $185.88 billion, a PE ratio of 19.94, a PEG ratio of 4.23 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted $1.61 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is 83.68%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of analyst reports. Bank of America decreased their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday. Barclays reduced their price target on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $158.19.

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.