First American Bank Has $40.76 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• First American Bank reduced its stake in PepsiCo, Inc. by 4.7%, holding 308,653 shares worth approximately $40.76 million, making PepsiCo the bank's 9th largest position.
• Several hedge funds made substantial changes to their holdings in PepsiCo, with Nuveen LLC acquiring a new position worth nearly $947 million and GAMMA Investing LLC increasing their stake by over 19,000%.
• PepsiCo's latest quarterly earnings report showed an EPS of $2.12, exceeding analysts' expectations, and the company announced a quarterly dividend of $1.4225 scheduled for September 30th.

First American Bank cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 308,653 shares of the company's stock after selling 15,258 shares during the period. PepsiCo makes up approximately 2.8% of First American Bank's holdings, making the stock its 9th biggest position. First American Bank's holdings in PepsiCo were worth $40,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PEP. Nuveen LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at $946,978,000. GAMMA Investing LLC increased its position in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $460,110,000. Assenagon Asset Management S.A. increased its position in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Barclays lifted their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Finally, Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $158.13.

PepsiCo Price Performance

NASDAQ PEP opened at $140.44 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50. The company has a market capitalization of $192.27 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 3.53 and a beta of 0.46. The firm's 50 day moving average is $144.63 and its 200-day moving average is $139.71.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the company earned $2.28 earnings per share. The firm's revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

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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