PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Knuff & Co LLC

Key Points

• Knuff & Co LLC reduced its stake in PepsiCo by 40.5%, selling 2,693 shares and bringing its total holdings to 3,964 shares valued at $594,000.
• PepsiCo's quarterly earnings report showed earnings per share of $2.12, surpassing analyst expectations, with revenue reaching $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 3.8%.

Knuff & Co LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 40.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,964 shares of the company's stock after selling 2,693 shares during the period. Knuff & Co LLC's holdings in PepsiCo were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PEP. Elite Financial Inc. acquired a new position in shares of PepsiCo during the 1st quarter worth about $28,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo during the fourth quarter worth approximately $31,000. Bridge Generations Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $38,000. GKV Capital Management Co. Inc. acquired a new stake in PepsiCo during the fourth quarter worth approximately $38,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $47,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. UBS Group dropped their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays raised their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Bank of America reduced their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Finally, Cowen restated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Up 1.2%

NASDAQ PEP opened at $150.40 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $205.91 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.96 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73. The firm has a 50-day moving average price of $137.39 and a 200 day moving average price of $140.63.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo's dividend payout ratio is 103.64%.

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.

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