Kennon Green & Company LLC Purchases 7,761 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kennon Green & Company LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 60.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,569 shares of the company's stock after purchasing an additional 7,761 shares during the period. PepsiCo accounts for 2.5% of Kennon Green & Company LLC's holdings, making the stock its 14th biggest holding. Kennon Green & Company LLC's holdings in PepsiCo were worth $3,084,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEP. Asset Management One Co. Ltd. raised its position in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ossiam grew its holdings in shares of PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after purchasing an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares during the period. Hutner Capital Management Inc. raised its holdings in shares of PepsiCo by 14.6% in the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock valued at $8,178,000 after buying an additional 6,865 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in PepsiCo during the 4th quarter valued at approximately $47,899,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Citigroup cut their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Finally, Morgan Stanley decreased their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of "Hold" and an average target price of $159.75.

PepsiCo Trading Up 2.4%

Shares of PepsiCo stock traded up $3.22 during midday trading on Tuesday, reaching $135.26. The company had a trading volume of 12,843,472 shares, compared to its average volume of 7,011,314. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The stock has a fifty day moving average price of $131.64 and a 200 day moving average price of $142.63. The firm has a market cap of $185.45 billion, a PE ratio of 19.89, a P/E/G ratio of 3.77 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.

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.