Zions Bancorporation National Association UT Purchases Shares of 46,365 PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Zions Bancorporation has purchased 46,365 shares of PepsiCo, valued at approximately $6.95 million, marking a new stake in the company.
• PepsiCo recently announced a quarterly dividend of $1.4225 per share, with an annualized yield of 4.0%, scheduled to be paid on September 30th.
• PepsiCo's shares are currently trading at $143.92 with a debt-to-equity ratio of 2.12 and an average target price from analysts of $158.73.

Zions Bancorporation National Association UT purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 46,365 shares of the company's stock, valued at approximately $6,952,000.

Several other hedge funds have also modified their holdings of the stock. Elite Financial Inc. bought a new stake in shares of PepsiCo during the first quarter worth approximately $28,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo in the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of PepsiCo in the fourth quarter valued at about $38,000. Bridge Generations Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter worth about $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $47,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PEP. Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Citigroup increased their price target on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group reduced their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Up 2.2%

Shares of NASDAQ:PEP opened at $143.92 on Friday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The company has a market cap of $197.04 billion, a P/E ratio of 26.21, a PEG ratio of 3.75 and a beta of 0.45. The stock's fifty day moving average price is $135.19 and its 200-day moving average price is $140.76.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 8.23% and a return on equity of 57.81%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is 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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