1ST Source Bank Sells 526 Shares of PepsiCo, Inc. (NASDAQ:PEP)

1ST Source Bank lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,794 shares of the company’s stock after selling 526 shares during the quarter. PepsiCo makes up about 0.6% of 1ST Source Bank’s portfolio, making the stock its 23rd biggest position. 1ST Source Bank’s holdings in PepsiCo were worth $10,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Howard Capital Management Group LLC lifted its holdings in PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after buying an additional 90 shares during the period. Accredited Investors Inc. lifted its holdings in PepsiCo by 1.6% during the third quarter. Accredited Investors Inc. now owns 10,642 shares of the company’s stock worth $1,810,000 after buying an additional 168 shares during the period. Spinnaker Investment Group LLC lifted its holdings in PepsiCo by 10.2% during the third quarter. Spinnaker Investment Group LLC now owns 3,501 shares of the company’s stock worth $595,000 after buying an additional 324 shares during the period. Finally, Phraction Management LLC purchased a new stake in PepsiCo during the third quarter worth $308,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PEP shares. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada assumed coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price objective for the company. BNP Paribas decreased their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, HSBC decreased their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $170.59.

PepsiCo Trading Up 0.2 %

PEP opened at $148.59 on Monday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company’s 50 day simple moving average is $148.76 and its two-hundred day simple moving average is $159.89. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market capitalization of $203.79 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the company posted $1.78 EPS. The business’s revenue was down .2% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

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.