Fifth Third Bancorp Sells 35,070 Shares of PepsiCo, Inc. $PEP

Fifth Third Bancorp decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 559,285 shares of the company’s stock after selling 35,070 shares during the quarter. Fifth Third Bancorp’s holdings in PepsiCo were worth $73,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CCM Investment Advisers LLC increased its position in shares of PepsiCo by 17.0% during the second quarter. CCM Investment Advisers LLC now owns 105,256 shares of the company’s stock worth $13,898,000 after buying an additional 15,297 shares during the period. Eaton Financial Holdings Company LLC bought a new position in shares of PepsiCo in the second quarter valued at $277,000. Financial Partners Group Inc bought a new position in shares of PepsiCo in the second quarter valued at $203,000. Focused Wealth Management Inc lifted its stake in shares of PepsiCo by 7.7% in the second quarter. Focused Wealth Management Inc now owns 1,917 shares of the company’s stock valued at $253,000 after buying an additional 137 shares in the last quarter. Finally, Revisor Wealth Management LLC lifted its stake in shares of PepsiCo by 20.2% in the second quarter. Revisor Wealth Management LLC now owns 3,892 shares of the company’s stock valued at $530,000 after buying an additional 654 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PEP shares. Bank of America cut their price target on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on shares of PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Citigroup boosted their price target on shares of PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays lifted their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.60.

PepsiCo Price Performance

PEP stock opened at $141.90 on Wednesday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50. The stock has a market cap of $194.27 billion, a PE ratio of 25.85, a P/E/G ratio of 3.56 and a beta of 0.46. The firm has a 50 day simple moving average of $144.66 and a two-hundred day simple moving average of $139.89. 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 (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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 given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo’s dividend payout ratio is presently 103.64%.

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.