King Luther Capital Management Corp Reduces Position in PepsiCo, Inc. (PEP)

King Luther Capital Management Corp lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,525,370 shares of the company’s stock after selling 14,792 shares during the quarter. PepsiCo comprises 1.4% of King Luther Capital Management Corp’s investment portfolio, making the stock its 23rd biggest holding. King Luther Capital Management Corp owned about 0.11% of PepsiCo worth $166,067,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. HC Financial Advisors Inc. acquired a new position in PepsiCo in the 4th quarter valued at approximately $1,040,000. Analyst IMS Investment Management Services Ltd. increased its position in PepsiCo by 11.2% in the 1st quarter. Analyst IMS Investment Management Services Ltd. now owns 9,976 shares of the company’s stock valued at $1,059,000 after acquiring an additional 1,007 shares during the period. Toronto Dominion Bank increased its position in PepsiCo by 22.6% in the 1st quarter. Toronto Dominion Bank now owns 817,972 shares of the company’s stock valued at $89,259,000 after acquiring an additional 150,891 shares during the period. Peapack Gladstone Financial Corp increased its position in PepsiCo by 0.4% in the 1st quarter. Peapack Gladstone Financial Corp now owns 291,842 shares of the company’s stock valued at $31,855,000 after acquiring an additional 1,080 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in PepsiCo by 8.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 82,293 shares of the company’s stock valued at $8,982,000 after acquiring an additional 6,270 shares during the period. Hedge funds and other institutional investors own 70.64% of the company’s stock.

PEP has been the subject of several recent research reports. Macquarie set a $122.00 price target on shares of PepsiCo and gave the company an “outperform” rating in a research report on Friday, September 28th. BidaskClub cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Deutsche Bank decreased their price target on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a research report on Wednesday, October 3rd. Finally, Goldman Sachs Group restated a “sell” rating and issued a $108.00 price target on shares of PepsiCo in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $117.89.

In related news, CEO Laxman Narasimhan sold 5,500 shares of the stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the transaction, the chief executive officer now directly owns 130,135 shares of the company’s stock, valued at $13,897,116.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Yawman sold 12,024 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 59,133 shares in the company, valued at $6,326,639.67. 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 insiders.

PEP opened at $116.06 on Friday. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95. The firm has a market cap of $162.63 billion, a PE ratio of 22.19, a PEG ratio of 2.88 and a beta of 0.58.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The company had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the prior year, the company posted $1.48 earnings per share. PepsiCo’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

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PepsiCo Company 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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