Hayek Kallen Investment Management Sells 107 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hayek Kallen Investment Management trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,847 shares of the company’s stock after selling 107 shares during the quarter. PepsiCo accounts for about 1.5% of Hayek Kallen Investment Management’s portfolio, making the stock its 22nd largest position. Hayek Kallen Investment Management’s holdings in PepsiCo were worth $4,395,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PEP. Flossbach Von Storch AG raised its stake in 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 buying an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of PepsiCo by 429.3% in the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after purchasing an additional 1,179,922 shares during the period. Confluence Investment Management LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at about $166,243,000. Finally, Legal & General Group Plc grew its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 0.2 %

NASDAQ:PEP traded up $0.33 during trading hours on Tuesday, hitting $176.43. 1,464,546 shares of the company traded hands, compared to its average volume of 5,484,668. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $242.55 billion, a PE ratio of 25.63, a PEG ratio of 3.11 and a beta of 0.53. The firm’s 50-day simple moving average is $173.56 and its 200-day simple moving average is $172.08.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.07%. PepsiCo’s dividend payout ratio is currently 78.66%.

PepsiCo Company Profile

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.