PepsiCo, Inc. (NASDAQ:PEP) Position Trimmed by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,585,578 shares of the company’s stock after selling 22,536 shares during the period. PepsiCo comprises approximately 1.2% of King Luther Capital Management Corp’s holdings, making the stock its 20th biggest position. King Luther Capital Management Corp owned 0.12% of PepsiCo worth $261,509,000 as of its most recent SEC filing.

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

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $174.66 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average price of $173.42 and a 200 day moving average price of $171.70. The company has a market cap of $240.12 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue was up .8% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEP shares. TD Cowen reduced their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. BNP Paribas assumed coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.53.

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.