PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Kirtland Hills Capital Management LLC

Key Points

• Kirtland Hills Capital Management LLC has increased its holdings in PepsiCo, Inc. by 44.7% in the first quarter, now owning 8,552 shares valued at approximately $1.22 million.
• PepsiCo reported $2.12 earnings per share for the last quarter, exceeding analyst expectations of $2.03, with a revenue of $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, yielding 4.02%, with the payout scheduled for September 30th.

Kirtland Hills Capital Management LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 44.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,552 shares of the company's stock after acquiring an additional 2,642 shares during the period. Kirtland Hills Capital Management LLC's holdings in PepsiCo were worth $1,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Asset Management One Co. Ltd. grew its holdings in shares of PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the last quarter. Ignite Planners LLC grew its holdings in PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after acquiring an additional 151 shares during the last quarter. Ossiam increased its position in shares of PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after acquiring an additional 42,793 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo in the first quarter worth about $3,633,000. Finally, OMERS ADMINISTRATION Corp raised its position in PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after purchasing an additional 13,461 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP traded up $1.70 during midday trading on Friday, reaching $139.62. 3,953,205 shares of the company's stock were exchanged, compared to its average volume of 8,570,143. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The stock has a market capitalization of $191.15 billion, a PE ratio of 25.43, a P/E/G ratio of 3.81 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The business's 50-day moving average price is $134.43 and its 200 day moving average price is $140.93.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Cowen reaffirmed a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of "Hold" and a consensus price target of $158.73.

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.