PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky grew its position in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,564 shares of the company’s stock after acquiring an additional 4,562 shares during the period. PepsiCo comprises about 1.1% of Independence Bank of Kentucky’s holdings, making the stock its 19th largest position. Independence Bank of Kentucky’s holdings in PepsiCo were worth $5,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC grew its position in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $0.44 during trading hours on Friday, reaching $173.43. The company’s stock had a trading volume of 151,276 shares, compared to its average volume of 5,487,283. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $157.43 and a one year high of $183.41. The company’s 50 day simple moving average is $173.59 and its 200 day simple moving average is $172.07. The stock has a market cap of $237.94 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $184.07.

Get Our Latest Analysis on PEP

PepsiCo Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEPFree Report).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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