Stonebridge Capital Management Inc. Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Stonebridge Capital Management Inc. reduced its stake in PepsiCo, Inc. by 7.7%, owning 40,545 shares worth approximately $6.08 million, making it the 11th largest holding in their portfolio.
• Several institutions have increased their holdings in PepsiCo, including Asset Management One Co. Ltd. and Ignite Planners LLC, indicating a mixed sentiment among institutional investors.
• PepsiCo reported a quarterly EPS of $2.12, exceeding estimates, and announced a quarterly dividend of $1.4225 per share with a 3.9% yield, although its payout ratio stands at 103.64%.

Stonebridge Capital Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,545 shares of the company's stock after selling 3,365 shares during the quarter. PepsiCo comprises about 2.6% of Stonebridge Capital Management Inc.'s holdings, making the stock its 11th largest holding. Stonebridge Capital Management Inc.'s holdings in PepsiCo were worth $6,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its stake in shares of PepsiCo by 3.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after buying an additional 21,859 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares during the period. Ossiam increased its holdings in shares of PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after purchasing an additional 42,793 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of PepsiCo during the first quarter valued at $3,633,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after buying an additional 13,461 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEP shares. JPMorgan Chase & Co. decreased their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays raised their price objective on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company raised their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Up 0.9%

PEP opened at $145.21 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The business has a 50 day moving average price of $135.71 and a 200 day moving average price of $140.70. The firm has a market cap of $198.80 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 3.83 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly 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 company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.28 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo's payout ratio is currently 103.64%.

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.

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