Kornitzer Capital Management Inc. KS Has $61.24 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,015 shares of the company’s stock after selling 4,315 shares during the period. PepsiCo accounts for about 1.1% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 9th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in PepsiCo were worth $61,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Personal Wealth Partners bought a new stake in shares of PepsiCo in the second quarter worth $25,000. Evolution Wealth Advisors LLC bought a new stake in PepsiCo during the second quarter worth $27,000. Financial Advantage Inc. bought a new stake in PepsiCo during the second quarter worth $28,000. 1 North Wealth Services LLC bought a new stake in PepsiCo during the fourth quarter worth $39,000. Finally, Financial Gravity Companies Inc. bought a new stake in PepsiCo during the fourth quarter worth $41,000. 71.26% of the stock is owned by institutional investors and hedge funds.

Shares of PEP opened at $131.06 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66. The company’s 50-day moving average is $130.78 and its 200-day moving average is $125.22. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $135.24. The firm has a market capitalization of $181.66 billion, a PE ratio of 23.16, a PEG ratio of 3.37 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.44 billion. During the same period in the prior year, the company posted $1.61 earnings per share. PepsiCo’s revenue was up 2.2% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.91%. PepsiCo’s payout ratio is 67.49%.

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

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of PepsiCo from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Royal Bank of Canada set a $115.00 price target on shares of PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Cowen upped their price target on shares of 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 set a $128.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. Finally, Bank of America increased their price objective on shares of PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. PepsiCo has an average rating of “Hold” and a consensus price target of $129.35.

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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