Kayne Anderson Rudnick Investment Management LLC Sells 2,679 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 103,135 shares of the company’s stock after selling 2,679 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in PepsiCo were worth $17,010,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEP. Valued Wealth Advisors LLC lifted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo in the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its stake in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo in the 1st quarter worth approximately $35,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 2.0 %

PEP stock opened at $171.18 on Friday. The firm has a fifty day moving average price of $173.51 and a 200 day moving average price of $171.81. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market cap of $235.13 billion, a PE ratio of 24.84, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Ratings Changes

Several research firms recently issued reports on PEP. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday. Barclays increased their target price on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, Jefferies Financial Group reduced their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.53.

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.