First Interstate Bank Sells 1,909 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Interstate Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,397 shares of the company's stock after selling 1,909 shares during the quarter. First Interstate Bank's holdings in PepsiCo were worth $3,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter worth $2,729,565,000. GAMMA Investing LLC boosted its position in shares of PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after acquiring an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PepsiCo during the fourth quarter worth $221,297,000. Finally, Vanguard Group Inc. lifted its position in PepsiCo by 1.0% during 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 last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 1.2%

PEP stock traded up $1.60 during trading on Thursday, hitting $136.08. The company had a trading volume of 8,864,567 shares, compared to its average volume of 7,086,430. The firm has a market capitalization of $186.58 billion, a P/E ratio of 20.01, a PEG ratio of 4.21 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The company has a 50 day simple moving average of $131.46 and a 200-day simple moving average of $141.78. 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 (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Barclays lowered their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Morgan Stanley lowered their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Bank of America lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $158.50.

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.