First Interstate Bank Has $3.66 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

First Interstate Bank decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after buying an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of PepsiCo by 22.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company's stock valued at $677,000 after buying an additional 824 shares in the last quarter. AlphaQuest LLC increased its stake in shares of PepsiCo by 126.6% in the fourth quarter. AlphaQuest LLC now owns 2,579 shares of the company's stock valued at $392,000 after buying an additional 1,441 shares in the last quarter. Finally, Davis R M Inc. increased its stake in shares of PepsiCo by 12.8% in the fourth quarter. Davis R M Inc. now owns 295,761 shares of the company's stock valued at $44,973,000 after buying an additional 33,652 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 1.3%

Shares of NASDAQ:PEP traded up $1.74 during midday trading on Thursday, hitting $136.22. The stock had a trading volume of 4,498,184 shares, compared to its average volume of 7,070,829. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The business's 50-day simple moving average is $131.41 and its 200-day simple moving average is $141.88. The company has a market cap of $186.77 billion, a P/E ratio of 20.04, a PEG ratio of 4.22 and a beta of 0.45.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a $1.4225 dividend. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.18%. PepsiCo's dividend payout ratio is presently 83.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEP shares. Barclays dropped 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 cut their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $159.75.

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.