OLD National Bancorp IN Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

OLD National Bancorp IN lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,307 shares of the company’s stock after selling 8,115 shares during the quarter. OLD National Bancorp IN’s holdings in PepsiCo were worth $12,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Moneta Group Investment Advisors LLC grew its holdings in shares of PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after buying an additional 42,831,405 shares during the last quarter. Norges Bank purchased a new position in shares of PepsiCo during the fourth quarter worth about $2,519,707,000. Morgan Stanley boosted its holdings in PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after purchasing an additional 4,629,947 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after purchasing an additional 3,026,611 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in PepsiCo in the 3rd quarter valued at approximately $329,179,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEP. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Jefferies Financial Group lifted their price objective on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Moderate Buy” and a consensus target price of $186.92.

PepsiCo Price Performance

Shares of PepsiCo stock traded up $1.86 during trading on Friday, hitting $174.13. 6,636,697 shares of the company were exchanged, compared to its average volume of 4,502,704. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The stock has a market capitalization of $239.34 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.73 and a beta of 0.53. The firm has a 50 day moving average price of $168.68 and a 200 day moving average price of $167.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The firm had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. During the same period in the previous year, the firm posted $1.67 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 77.02%.

About PepsiCo

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.