Kornitzer Capital Management Inc. KS Sells 10,076 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kornitzer Capital Management Inc. KS decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 395,510 shares of the company’s stock after selling 10,076 shares during the period. PepsiCo makes up 1.2% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 14th largest position. Kornitzer Capital Management Inc. KS’s holdings in PepsiCo were worth $60,141,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc increased its holdings in shares of PepsiCo by 2.2% in the fourth quarter. CIBC Asset Management Inc now owns 546,123 shares of the company’s stock worth $83,043,000 after acquiring an additional 11,516 shares in the last quarter. Human Investing LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $39,000. NTV Asset Management LLC raised its holdings in PepsiCo by 3.1% during the 4th quarter. NTV Asset Management LLC now owns 37,440 shares of the company’s stock worth $5,693,000 after buying an additional 1,127 shares during the period. Sanctuary Advisors LLC lifted its stake in PepsiCo by 0.8% in the fourth quarter. Sanctuary Advisors LLC now owns 264,331 shares of the company’s stock valued at $40,152,000 after buying an additional 2,064 shares in the last quarter. Finally, KLCM Advisors Inc. increased its position in shares of PepsiCo by 252.9% during the fourth quarter. KLCM Advisors Inc. now owns 21,437 shares of the company’s stock worth $3,260,000 after acquiring an additional 15,362 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEP. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group decreased their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, BNP Paribas cut their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Down 0.8 %

NASDAQ PEP opened at $143.39 on Tuesday. The company has a market cap of $196.66 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business’s fifty day moving average is $149.80 and its 200 day moving average is $163.06.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.