Keating Investment Counselors Inc. Sells 1,054 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Keating Investment Counselors Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,605 shares of the company’s stock after selling 1,054 shares during the quarter. Keating Investment Counselors Inc.’s holdings in PepsiCo were worth $1,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Gilbert & Cook Inc. grew its position in shares of PepsiCo by 23.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after buying an additional 1,133 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in PepsiCo by 4.4% in the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after acquiring an additional 229 shares during the period. 9258 Wealth Management LLC increased its position in PepsiCo by 56.0% during the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after purchasing an additional 2,974 shares during the period. Gryphon Financial Partners LLC raised its holdings in shares of PepsiCo by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Calton & Associates Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $265,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Royal Bank of Canada dropped their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Morgan Stanley reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Barclays raised their price target on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Down 0.3 %

NASDAQ PEP opened at $177.34 on Friday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company has a market capitalization of $243.59 billion, a PE ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53. The company has a fifty day moving average of $170.96 and a 200 day moving average of $171.15.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.