Fifth Third Bancorp Sells 36,880 Shares of PepsiCo, Inc. $PEP

Key Points

• Fifth Third Bancorp reduced its PepsiCo stake by 3.6%, selling 36,880 shares during the second quarter and retaining 989,938 shares valued at approximately $134 million.
• PepsiCo reported quarterly earnings of $2.20 per share and revenue of $24.18 billion, exceeding analyst expectations, while revenue increased 6.4% year over year.
• PepsiCo declared a quarterly dividend of $1.48 per share, equivalent to an annualized $5.92 payout and a 4.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $157.90.

Fifth Third Bancorp trimmed its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 989,938 shares of the company's stock after selling 36,880 shares during the quarter. Fifth Third Bancorp owned approximately 0.07% of PepsiCo worth $134,038,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PEP. Evergreen Advisors LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of PepsiCo in the 4th quarter worth $26,000. Swiss RE Ltd. acquired a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Atlatl Advisers LLC bought a new stake in PepsiCo in the second quarter valued at about $31,000. Finally, Imprint Wealth LLC bought a new stake in PepsiCo in the third quarter valued at about $31,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.0%

PEP stock opened at $143.48 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.74. The stock has a market capitalization of $195.83 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.12 and a beta of 0.35. PepsiCo, Inc. has a fifty-two week low of $133.73 and a fifty-two week high of $171.48. The business has a 50-day moving average of $140.02 and a 200-day moving average of $150.30.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 9th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.01. PepsiCo had a net margin of 10.78% and a return on equity of 54.63%. The company had revenue of $24.18 billion during the quarter, compared to analysts' expectations of $23.95 billion. During the same period last year, the business earned $0.92 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.57 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, September 4th. PepsiCo's dividend payout ratio is currently 77.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein set a $134.00 target price on PepsiCo in a research report on Friday, July 10th. Rothschild & Co Redburn boosted their price target on shares of PepsiCo from $130.00 to $132.00 in a report on Monday, May 11th. TD Cowen decreased their target price on PepsiCo from $150.00 to $145.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Citigroup downgraded PepsiCo from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $170.00 to $145.00 in a report on Friday, July 10th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PepsiCo in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average price target of $157.90.

Insider Buying and Selling

In other PepsiCo news, EVP David Flavell sold 2,900 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $139.54, for a total value of $404,666.00. Following the completion of the transaction, the executive vice president directly owned 74,825 shares in the company, valued at $10,441,080.50. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.12% of the company's stock.

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source