Northern Trust Corp Has $2.45 Billion Stake in PepsiCo, Inc. $PEP

Key Points

• Northern Trust Corp holds a $2.45 billion stake in PepsiCo, having reduced its position by 0.4% to 16,344,720 shares.
• PepsiCo's latest quarterly earnings surpassed expectations, with an EPS of $2.12 on revenue of $22.73 billion, compared to analysts' predictions of $2.03 EPS on $22.28 billion revenue.
• The company announced a quarterly dividend of $1.4225 per share, translating to an annualized dividend yield of 3.8%.

Northern Trust Corp decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,344,720 shares of the company's stock after selling 58,675 shares during the period. Northern Trust Corp owned about 1.19% of PepsiCo worth $2,450,727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after purchasing an additional 11,538 shares during the last quarter. First Trust Advisors LP raised its position in PepsiCo by 8.9% in the 4th quarter. First Trust Advisors LP now owns 1,682,445 shares of the company's stock worth $255,833,000 after purchasing an additional 137,736 shares during the last quarter. Mirabella Financial Services LLP bought a new position in PepsiCo in the 4th quarter worth approximately $3,063,000. Finally, Transce3nd LLC acquired a new stake in PepsiCo during the 4th quarter worth $633,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Barclays lifted their target price on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. One research 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Up 1.2%

Shares of NASDAQ PEP opened at $150.40 on Monday. The company's fifty day moving average is $137.39 and its 200-day moving average is $140.48. The stock has a market cap of $205.91 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 4.01 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

PepsiCo Company 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.

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