Keystone Financial Planning Inc. Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

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Keystone Financial Planning Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,374 shares of the company’s stock after selling 7,319 shares during the period. PepsiCo accounts for about 3.4% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 9th largest position. Keystone Financial Planning Inc.’s holdings in PepsiCo were worth $6,868,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its position in PepsiCo by 10,622.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after buying an additional 34,380,553 shares during the period. BlackRock Inc. increased its position in PepsiCo by 2.4% in the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after buying an additional 2,275,511 shares during the period. Thoroughbred Financial Services LLC increased its position in PepsiCo by 13,410.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock worth $180,626,000 after buying an additional 1,792,893 shares during the period. Railway Pension Investments Ltd bought a new position in PepsiCo in the 2nd quarter worth approximately $16,182,000. Finally, Swedbank bought a new position in PepsiCo in the 2nd quarter worth approximately $135,539,000. 71.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:PEP traded down $0.36 during trading on Thursday, hitting $131.98. 61,687 shares of the stock were exchanged, compared to its average volume of 4,560,547. PepsiCo, Inc. has a 1-year low of $104.53 and a 1-year high of $135.24. The company has a market capitalization of $185.36 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 3.44 and a beta of 0.60. The company’s fifty day simple moving average is $130.86 and its 200-day simple moving average is $125.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The company had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same quarter last year, the firm earned $1.61 EPS. PepsiCo’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is presently 67.49%.

Several research analysts have commented on PEP shares. Morgan Stanley lifted their price target on PepsiCo from $137.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Cowen lifted their price target on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. BMO Capital Markets reaffirmed an “average” rating and issued a $128.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. Royal Bank of Canada set a $115.00 price target on PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Atlantic Securities started coverage on PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $129.35.

In related news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the completion of the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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