PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,381,382 shares of the company's stock after selling 204,196 shares during the quarter. PepsiCo comprises approximately 1.0% of King Luther Capital Management Corp's portfolio, making the stock its 28th biggest holding. King Luther Capital Management Corp owned approximately 0.10% of PepsiCo worth $234,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company's stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP raised its holdings in PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company's stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company's stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of PepsiCo by 14.6% during the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company's stock worth $676,036,000 after purchasing an additional 492,888 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $158.74 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The firm has a market cap of $217.79 billion, a P/E ratio of 23.41, a PEG ratio of 2.92 and a beta of 0.53. The business's 50-day moving average price is $169.66 and its 200 day moving average price is $171.16.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. During the same quarter last year, the firm earned $2.25 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo's dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research note on Friday, October 4th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and an average price target of $183.92.

PepsiCo 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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