Country Club Bank Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Country Club Bank reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,644 shares of the company’s stock after selling 390 shares during the quarter. Country Club Bank’s holdings in PepsiCo were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after purchasing an additional 582,254 shares during the period. Norges Bank purchased a new stake in PepsiCo during the 4th quarter worth $2,729,565,000. Northern Trust Corp lifted its holdings in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock worth $2,494,300,000 after buying an additional 1,306,818 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in PepsiCo by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock worth $2,108,585,000 after buying an additional 49,699 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $136.08 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The firm’s fifty day simple moving average is $131.46 and its 200 day simple moving average is $141.78. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $186.58 billion, a PE ratio of 20.01, a PEG ratio of 4.21 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.18%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analysts Set New Price Targets

PEP has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup decreased their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, UBS Group decreased their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $158.50.

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.