PepsiCo, Inc. $PEP Shares Bought by Kerusso Capital Management LLC

Kerusso Capital Management LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 88.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,166 shares of the company’s stock after purchasing an additional 12,296 shares during the period. PepsiCo comprises approximately 2.3% of Kerusso Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Kerusso Capital Management LLC’s holdings in PepsiCo were worth $3,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Wright Investors Service Inc. bought a new position in shares of PepsiCo in the third quarter valued at $1,389,000. Koa Wealth Management LLC boosted its stake in shares of PepsiCo by 5.9% during the 3rd quarter. Koa Wealth Management LLC now owns 7,939 shares of the company’s stock worth $1,115,000 after acquiring an additional 439 shares in the last quarter. Littlejohn Financial Services Inc. acquired a new position in shares of PepsiCo in the 3rd quarter worth $2,552,000. Blalock Williams LLC acquired a new stake in shares of PepsiCo during the third quarter worth $488,000. Finally, Impact Capital Partners LLC lifted its holdings in shares of PepsiCo by 10.4% during the third quarter. Impact Capital Partners LLC now owns 8,950 shares of the company’s stock valued at $1,257,000 after purchasing an additional 845 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. The Goldman Sachs Group lifted their price target on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. HSBC lifted their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Evercore ISI raised their price objective on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Wells Fargo & Company boosted their target price on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Finally, Rothschild & Co Redburn raised their target price on PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research report on Monday, December 15th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $158.58.

PepsiCo Stock Up 0.4%

PEP stock opened at $146.57 on Friday. The company has a 50 day moving average of $145.55 and a two-hundred day moving average of $144.51. The company has a market cap of $200.41 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were paid a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s payout ratio is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.