US Bancorp DE Sells 85,150 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• US Bancorp DE reduced its stake in PepsiCo, Inc. by 4.5%, selling 85,150 shares, bringing its total ownership to 1,792,716 shares valued at $268.8 million.
• PepsiCo reported earnings per share of $2.12 for the latest quarter, exceeding analyst expectations, while also seeing a 1.0% increase in year-over-year revenue to $22.73 billion.
• The company announced a quarterly dividend of $1.4225, translating to an annualized dividend of $5.69 and a yield of 4.1%, despite a high payout ratio of 103.64%.

US Bancorp DE cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,792,716 shares of the company's stock after selling 85,150 shares during the quarter. US Bancorp DE owned about 0.13% of PepsiCo worth $268,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. GAMMA Investing LLC boosted its stake in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after buying an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PepsiCo by 106.1% during the first 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 last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of PepsiCo during the fourth quarter valued at approximately $221,297,000. Northern Trust Corp increased its holdings in shares of PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of PepsiCo by 292.9% in the fourth quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock valued at $228,946,000 after purchasing an additional 1,162,315 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 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 stock. Based on data from MarketBeat, PepsiCo presently has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $1.36 during trading on Friday, reaching $139.28. The company had a trading volume of 7,606,047 shares, compared to its average volume of 9,347,638. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The stock has a market cap of $190.69 billion, a PE ratio of 25.37, a PEG ratio of 3.67 and a beta of 0.45. 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's 50 day moving average price is $134.63 and its 200-day moving average price is $140.89.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date 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 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.