Kimelman & Baird LLC Buys Shares of 3,177 PepsiCo, Inc. (NASDAQ:PEP)

Kimelman & Baird LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,177 shares of the company’s stock, valued at approximately $524,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. grew its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.2 %

NASDAQ:PEP opened at $170.00 on Monday. The company has a market cap of $233.51 billion, a PE ratio of 24.67, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The company’s 50 day moving average is $173.77 and its two-hundred day moving average is $172.08.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s dividend payout ratio is presently 78.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Finally, TD Cowen decreased their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.53.

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.