First Interstate Bank Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

First Interstate Bank reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Norges Bank bought a new stake in PepsiCo in the 4th quarter valued at $2,729,565,000. Northern Trust Corp increased its stake in PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of PepsiCo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock valued at $2,108,585,000 after purchasing an additional 49,699 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.56 during mid-day trading on Wednesday, reaching $134.48. The company had a trading volume of 7,759,078 shares, compared to its average volume of 7,080,434. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The company's 50-day moving average price is $131.43 and its 200-day moving average price is $141.93. The firm has a market cap of $184.38 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.22 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period last year, the company posted $1.61 EPS. The business's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. 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 4.23%. PepsiCo's dividend payout ratio is 83.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Citigroup cut their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Evercore ISI set a $140.00 price target on PepsiCo in a research note on Thursday, April 24th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, 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 note on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus price target 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.