First Interstate Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.3% during 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.
Several other hedge funds have also recently bought and sold shares of PEP. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at $28,000. Elite Financial Inc. acquired a new position in shares of PepsiCo during the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo during the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the 4th quarter valued at $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is owned by institutional investors.
PepsiCo Stock Performance
Shares of PepsiCo stock traded down $0.82 on Friday, reaching $135.26. 7,958,581 shares of the company traded hands, compared to its average volume of 7,089,924. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a 50 day moving average of $131.46 and a 200 day moving average of $141.78. The firm has a market capitalization of $185.45 billion, a PE ratio of 19.89, a PEG ratio of 4.21 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.
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 analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for 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%. The firm's revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.61 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Friday, June 6th. PepsiCo's dividend payout ratio is presently 83.68%.
Analyst Ratings Changes
PEP has been the topic of a number of research reports. Bank of America dropped their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday. Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. One 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. According to data from MarketBeat, PepsiCo has an average rating of "Hold" and a consensus target price of $158.19.
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About PepsiCo
(
Free Report)
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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