Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,668 shares of the company's stock after selling 3,674 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in PepsiCo were worth $6,916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PEP. Meixler Investment Management Ltd. grew its holdings in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock worth $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC raised its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock worth $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton increased its holdings in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company's stock worth $448,000 after acquiring an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC raised its stake in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock worth $1,481,000 after acquiring an additional 60 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 4.0 %

NASDAQ PEP traded down $6.53 during trading hours on Friday, hitting $158.62. 9,108,948 shares of the company were exchanged, compared to its average volume of 5,466,003. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average price of $170.82 and a 200 day moving average price of $171.56. The stock has a market cap of $217.63 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. Barclays lowered their price target on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $183.92.

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.