PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Field & Main Bank

Field & Main Bank cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,465 shares of the company’s stock after selling 250 shares during the period. PepsiCo makes up 1.0% of Field & Main Bank’s portfolio, making the stock its 29th biggest holding. Field & Main Bank’s holdings in PepsiCo were worth $1,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ausdal Financial Partners Inc. raised its stake in PepsiCo by 0.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 7,951 shares of the company’s stock valued at $1,178,000 after acquiring an additional 64 shares during the last quarter. Mosaic Family Wealth LLC increased its position in PepsiCo by 0.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 8,507 shares of the company’s stock worth $1,260,000 after purchasing an additional 65 shares during the period. Loudon Investment Management LLC increased its position in PepsiCo by 0.7% during the 2nd quarter. Loudon Investment Management LLC now owns 9,948 shares of the company’s stock worth $1,474,000 after purchasing an additional 67 shares during the period. OLD Dominion Capital Management Inc. increased its position in PepsiCo by 0.3% during the 3rd quarter. OLD Dominion Capital Management Inc. now owns 22,634 shares of the company’s stock worth $3,404,000 after purchasing an additional 67 shares during the period. Finally, Peninsula Asset Management Inc. increased its position in PepsiCo by 0.3% during the 2nd quarter. Peninsula Asset Management Inc. now owns 26,322 shares of the company’s stock worth $3,900,000 after purchasing an additional 69 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on PEP shares. Evercore ISI reiterated a “hold” rating and set a $160.00 target price on shares of PepsiCo in a research report on Thursday, October 7th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective on the stock. in a research note on Monday, August 9th. Barclays raised their price target on shares of PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 7th. UBS Group raised their price target on shares of PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. Finally, Guggenheim increased their price objective on shares of PepsiCo from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, September 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $162.86.

PEP traded down $1.51 on Thursday, hitting $163.74. The company had a trading volume of 3,308,040 shares, compared to its average volume of 4,732,310. The company’s fifty day moving average price is $158.84 and its 200 day moving average price is $154.23. PepsiCo, Inc. has a 1-year low of $128.32 and a 1-year high of $166.80. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.95 and a quick ratio of 0.77. The stock has a market cap of $226.40 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.62.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Monday, October 4th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The company had revenue of $20.19 billion during the quarter, compared to analyst estimates of $19.39 billion. PepsiCo had a return on equity of 58.31% and a net margin of 10.62%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 6.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 7th. Stockholders of record on Friday, December 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 2nd. PepsiCo’s payout ratio is presently 73.25%.

In related news, CFO Hugh F. Johnston sold 37,266 shares of the firm’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $160.30, for a total value of $5,973,739.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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