BankPlus Trust Department Sells 4,202 Shares of PepsiCo, Inc. (NASDAQ:PEP)

BankPlus Trust Department lessened its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 61.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,613 shares of the company's stock after selling 4,202 shares during the period. BankPlus Trust Department's holdings in PepsiCo were worth $392,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEP. Vanguard Group Inc. increased its holdings in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Geode Capital Management LLC grew its position in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $2,729,565,000. Northern Trust Corp raised its position in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after acquiring an additional 1,306,818 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of PepsiCo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock worth $2,108,585,000 after acquiring an additional 49,699 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.6%

NASDAQ PEP opened at $135.26 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The business has a 50 day moving average price of $131.49 and a 200-day moving average price of $141.65. The company has a market cap of $185.45 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 4.26 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted $1.61 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $1.4225 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.21%. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday. Bank of America cut their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, Morgan Stanley cut their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $158.19.

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.

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