Kentucky Retirement Systems Has $17.09 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Kentucky Retirement Systems lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,599 shares of the company’s stock after selling 779 shares during the quarter. Kentucky Retirement Systems’ holdings in PepsiCo were worth $17,087,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares during the last quarter. Norden Group LLC grew its holdings in PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the last quarter. Marion Wealth Management increased its position in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after acquiring an additional 11,485 shares during the last quarter. Finally, Meyer Handelman Co. lifted its position in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Morgan Stanley decreased their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. TD Cowen dropped their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Trading Down 0.9 %

Shares of NASDAQ PEP opened at $175.21 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The company’s fifty day moving average is $173.20 and its 200-day moving average is $171.68. The stock has a market cap of $240.88 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.09%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

About PepsiCo

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.