1ST Source Bank Has $10.50 Million Position in Pepsico, Inc. (PEP)
1ST Source Bank reduced its position in shares of Pepsico, Inc. (NYSE:PEP) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,840 shares of the company’s stock after selling 1,001 shares during the period. Pepsico accounts for 0.9% of 1ST Source Bank’s portfolio, making the stock its 14th largest position. 1ST Source Bank’s holdings in Pepsico were worth $10,497,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Norges Bank bought a new stake in shares of Pepsico during the fourth quarter valued at approximately $1,492,411,000. Asset Management One Co. Ltd. increased its stake in shares of Pepsico by 692.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,564,260 shares of the company’s stock valued at $268,372,000 after buying an additional 2,240,572 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Pepsico by 217.7% in the fourth quarter. Fiera Capital Corp now owns 2,417,934 shares of the company’s stock valued at $252,989,000 after buying an additional 1,656,939 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Pepsico by 179.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,276,462 shares of the company’s stock valued at $238,186,000 after buying an additional 1,462,000 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares during the last quarter. 70.40% of the stock is owned by institutional investors.
Pepsico, Inc. (NYSE PEP) opened at 116.63 on Friday. The firm has a market capitalization of $166.26 billion, a PE ratio of 24.70 and a beta of 0.67. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The company’s 50-day moving average is $116.09 and its 200-day moving average is $111.40. Pepsico also was the target of some unusual options trading activity on Wednesday. Investors acquired 1,176 call options on the company. This is an increase of 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $1.35 earnings per share. Analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
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Several analysts recently commented on PEP shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $133.00 target price (up previously from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Vetr raised shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price objective for the company in a report on Wednesday, May 3rd. Royal Bank Of Canada set a $115.00 price objective on shares of Pepsico and gave the company a “hold” rating in a report on Monday, April 24th. Finally, UBS AG raised shares of Pepsico from a “neutral” rating to a “positive” rating in a report on Wednesday, April 12th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $123.04.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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