Huntington National Bank Has $46.04 Million Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Huntington National Bank trimmed its PepsiCo stake by 3.2% in the fourth quarter, selling 10,655 shares and ending with 320,808 shares valued at about $46.0 million.
• PepsiCo posted solid quarterly results, beating earnings and revenue expectations with EPS of $1.61 and revenue of $19.44 billion, while sales rose 8.5% year over year.
• The company boosted its dividend and is repurchasing shares, raising the quarterly payout to $1.48 per share and maintaining a $10 billion buyback program, signaling confidence in the business.

Huntington National Bank reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320,808 shares of the company's stock after selling 10,655 shares during the quarter. Huntington National Bank's holdings in PepsiCo were worth $46,042,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cypress Capital Management LLC WY raised its stake in PepsiCo by 8.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company's stock worth $121,000 after buying an additional 64 shares during the period. United Bank raised its stake in PepsiCo by 3.9% during the 4th quarter. United Bank now owns 1,717 shares of the company's stock worth $246,000 after buying an additional 65 shares during the period. Koa Wealth Management LLC raised its stake in PepsiCo by 0.9% during the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company's stock worth $1,149,000 after buying an additional 68 shares during the period. Delta Asset Management LLC TN raised its stake in PepsiCo by 0.6% during the 3rd quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company's stock worth $1,545,000 after buying an additional 70 shares during the period. Finally, Westside Investment Management Inc. raised its stake in PepsiCo by 2.8% during the 3rd quarter. Westside Investment Management Inc. now owns 2,602 shares of the company's stock worth $366,000 after buying an additional 70 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. upped their price target on PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. The Goldman Sachs Group upped their price target on PepsiCo from $180.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PepsiCo in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on PepsiCo from $169.00 to $173.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $170.11.

PepsiCo Stock Performance

PEP stock opened at $147.74 on Thursday. The firm has a market cap of $201.93 billion, a PE ratio of 23.19, a P/E/G ratio of 2.64 and a beta of 0.38. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average of $153.52 and a 200-day moving average of $152.63. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.PepsiCo's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.48 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo's dividend payout ratio is currently 89.32%.

PepsiCo declared that its board has initiated a stock repurchase plan on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Piper Sandler reaffirmed a Buy rating on PepsiCo with a $181 price target, suggesting analysts still see upside despite rising inflation concerns. Piper Sandler Sticks With Buy Rating on PepsiCo (PEP) Amid Inflation Concerns
• Positive Sentiment: PepsiCo is highlighting its product quality and marketing with new packaging that will carry a “no artificial flavours or colours” label, which could help reinforce consumer trust and support demand for its brands. PepsiCo new packaging to carry 'no artificial flavours or colours' label
• Neutral Sentiment: PepsiCo management said the company is emphasizing “hustle,” curiosity, and adaptability in hiring as AI reshapes talent needs. This is more of a workforce/culture update than an immediate earnings driver. As Amazon And Others Turn To AI Hiring Tools, PepsiCo Doubles Down On 'Hustle' And Curiosity
• Neutral Sentiment: Several analyst and industry pieces noted that PepsiCo’s valuation targets have been adjusted modestly and that the soft drink sector is facing tariff and cost pressures, but these updates were largely incremental rather than a major change in fundamentals. How The PepsiCo (PEP) Story Is Shifting As Analysts Rework Targets And Assumptions
• Negative Sentiment: One market report said PepsiCo stock underperformed peers on Tuesday, reflecting some relative weakness versus competitors even as broader sector themes remained mixed. PepsiCo Inc. stock underperforms Tuesday when compared to competitors

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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