Commerce Bank Has $137.86 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Commerce Bank has reduced its stake in PepsiCo to 919,434 shares, representing a 0.9% allocation of its holdings, valued at approximately $137.86 million.
• PepsiCo reported earnings of $2.12 per share, exceeding expectations, with quarterly revenue rising to $22.73 billion, up 1.0% year-over-year.
• On September 30th, PepsiCo will pay a quarterly dividend of $1.4225, translating to an annualized yield of 4.1% and a payout ratio of 103.64%.

Commerce Bank trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 919,434 shares of the company's stock after selling 5,253 shares during the period. PepsiCo comprises about 0.9% of Commerce Bank's portfolio, making the stock its 23rd largest position. Commerce Bank owned about 0.07% of PepsiCo worth $137,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in PepsiCo by 19,106.5% in the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after buying an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after buying an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PepsiCo in the 4th quarter valued at $221,297,000. Northern Trust Corp increased its stake in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in PepsiCo by 292.9% in the 4th quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock valued at $228,946,000 after buying an additional 1,162,315 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Performance

Shares of PEP stock traded up $1.36 during midday trading on Friday, hitting $139.28. 7,606,047 shares of the company were exchanged, compared to its average volume of 9,347,638. The firm has a market capitalization of $190.69 billion, a P/E ratio of 25.37, a PEG ratio of 3.67 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm's 50 day moving average price is $134.63 and its two-hundred day moving average price is $140.89. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is presently 103.64%.

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.