PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,405 shares of the company’s stock after selling 3,879 shares during the period. PepsiCo comprises about 0.7% of 1ST Source Bank’s portfolio, making the stock its 22nd largest holding. 1ST Source Bank’s holdings in PepsiCo were worth $11,612,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter worth about $2,686,139,000. Flossbach Von Storch AG raised its holdings in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $177.36 on Friday. The firm’s 50 day moving average price is $172.37 and its 200 day moving average price is $171.43. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a market cap of $243.62 billion, a P/E ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEP. Barclays raised their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Bank of America reduced their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Jefferies Financial Group dropped their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada cut their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo 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.