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

Independence Bank of Kentucky grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) 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:PEP) 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.

PepsiCo Company 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.