Kentucky Retirement Systems Sells 5,775 Shares of PepsiCo, Inc. $PEP

Kentucky Retirement Systems lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,127 shares of the company’s stock after selling 5,775 shares during the period. Kentucky Retirement Systems’ holdings in PepsiCo were worth $11,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PEP. Saratoga Research & Investment Management raised its position in shares of PepsiCo by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 167,435 shares of the company’s stock valued at $22,108,000 after buying an additional 1,905 shares in the last quarter. Monarch Capital Management Inc. boosted its stake in shares of PepsiCo by 20.5% during the 2nd quarter. Monarch Capital Management Inc. now owns 11,059 shares of the company’s stock worth $1,460,000 after purchasing an additional 1,882 shares during the period. North Dallas Bank & Trust Co. purchased a new stake in PepsiCo in the 2nd quarter worth about $1,895,000. Coppell Advisory Solutions LLC bought a new stake in PepsiCo in the second quarter worth about $1,293,000. Finally, Marex Group plc purchased a new position in shares of PepsiCo during the second quarter valued at approximately $3,078,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.1%

Shares of PepsiCo stock opened at $150.65 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market cap of $205.99 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 5.20 and a beta of 0.42. The firm’s 50-day moving average is $147.30 and its two-hundred day moving average is $142.29. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler lifted their target price on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Finally, Bank of America boosted their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.35.

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.