Independence Bank of Kentucky trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,200 shares of the company’s stock after selling 809 shares during the period. PepsiCo comprises approximately 1.4% of Independence Bank of Kentucky’s portfolio, making the stock its 22nd biggest holding. Independence Bank of Kentucky’s holdings in PepsiCo were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in PEP. BlackRock Inc. raised its holdings in PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after buying an additional 1,291,012 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PepsiCo by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after buying an additional 3,115,305 shares in the last quarter. FMR LLC raised its holdings in PepsiCo by 4.9% during the second quarter. FMR LLC now owns 10,129,130 shares of the company’s stock valued at $1,102,759,000 after buying an additional 471,913 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of PepsiCo by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 9,149,424 shares of the company’s stock valued at $996,098,000 after purchasing an additional 376,620 shares during the last quarter. Finally, Yacktman Asset Management LP grew its position in shares of PepsiCo by 0.6% in the second quarter. Yacktman Asset Management LP now owns 7,852,617 shares of the company’s stock valued at $854,914,000 after purchasing an additional 46,195 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

PEP stock opened at $116.84 on Friday. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. The stock has a market cap of $166.28 billion, a P/E ratio of 22.34, a PEG ratio of 2.95 and a beta of 0.60. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period last year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts predict that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 7th will be given a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 70.94%.

PEP has been the topic of several research analyst reports. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Tuesday, September 11th. JPMorgan Chase & Co. set a $124.00 price target on PepsiCo and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Morgan Stanley lowered their price target on PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. Finally, ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. PepsiCo currently has a consensus rating of “Hold” and an average price target of $117.89.

In other PepsiCo news, EVP David Yawman sold 12,024 shares of PepsiCo stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the sale, the executive vice president now directly owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the sale, the chief executive officer now directly owns 35,520 shares in the company, valued at $3,993,158.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by company insiders.

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PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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