Associated Banc Corp Has $22.69 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Associated Banc Corp reduced its stake in PepsiCo by 3.7% to own 151,351 shares worth approximately $22.69 million as of the latest filing.
• PepsiCo reported $2.12 earnings per share for the last quarter, exceeding analysts' expectations of $2.03, with revenue reaching $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, representing an annualized yield of 4.1%, with a payout ratio of 103.64%.

Associated Banc Corp decreased its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,351 shares of the company's stock after selling 5,855 shares during the period. Associated Banc Corp's holdings in PepsiCo were worth $22,694,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PEP. GAMMA Investing LLC increased its position in PepsiCo by 19,106.5% in the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after acquiring an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. increased its position in PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after acquiring an additional 1,809,391 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PepsiCo in the 4th quarter valued at approximately $221,297,000. Northern Trust Corp increased its position in PepsiCo by 8.7% in the 4th 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, APG Asset Management N.V. increased its position in PepsiCo by 292.9% in the 4th quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock valued at $228,946,000 after acquiring an additional 1,162,315 shares during the period. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. Wells Fargo & Company raised their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. One research 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, the stock has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Down 0.1%

Shares of PepsiCo stock traded down $0.11 during midday trading on Tuesday, hitting $139.45. The company's stock had a trading volume of 5,533,502 shares, compared to its average volume of 9,759,724. The firm has a market capitalization of $190.92 billion, a P/E ratio of 25.40, a PEG ratio of 3.72 and a beta of 0.45. The stock has a 50-day simple moving average of $134.83 and a 200-day simple moving average of $140.77. 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, Inc. has a 1-year low of $127.60 and a 1-year high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company 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 dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo's dividend payout ratio (DPR) is presently 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.