First PREMIER Bank Sells 553 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First PREMIER Bank cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,224 shares of the company’s stock after selling 553 shares during the quarter. PepsiCo makes up 1.2% of First PREMIER Bank’s portfolio, making the stock its 25th largest position. First PREMIER Bank’s holdings in PepsiCo were worth $4,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. grew its stake in PepsiCo by 2.5% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 7,229 shares of the company’s stock valued at $1,185,000 after buying an additional 173 shares during the last quarter. Meadow Creek Wealth Advisors LLC boosted its position in shares of PepsiCo by 5.7% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 2,568 shares of the company’s stock worth $424,000 after acquiring an additional 138 shares in the last quarter. James J. Burns & Company LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $318,000. Phoenix Wealth Advisors boosted its position in shares of PepsiCo by 3.1% during the 2nd quarter. Phoenix Wealth Advisors now owns 7,342 shares of the company’s stock worth $1,211,000 after acquiring an additional 223 shares in the last quarter. Finally, Midwest Financial Group LLC boosted its position in shares of PepsiCo by 1.1% during the 2nd quarter. Midwest Financial Group LLC now owns 5,486 shares of the company’s stock worth $905,000 after acquiring an additional 61 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEP. Bank of America reduced their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Down 0.7 %

NASDAQ PEP traded down $1.19 during mid-day trading on Thursday, reaching $172.52. 4,470,928 shares of the stock were exchanged, compared to its average volume of 5,497,682. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The stock has a 50 day simple moving average of $168.05 and a 200-day simple moving average of $170.49. The stock has a market cap of $236.97 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.98 and a beta of 0.52. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.09 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, September 6th. 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.