PepsiCo, Inc. (NASDAQ:PEP) Holdings Cut by OLD National Bancorp IN

OLD National Bancorp IN lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 74,307 shares of the company’s stock after selling 8,115 shares during the period. OLD National Bancorp IN’s holdings in PepsiCo were worth $12,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PEP. Moneta Group Investment Advisors LLC increased its stake in shares of PepsiCo by 95,514.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares during the period. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,519,707,000. Morgan Stanley increased its stake in shares of PepsiCo by 21.0% in the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after purchasing an additional 4,629,947 shares during the period. International Assets Investment Management LLC increased its stake in shares of PepsiCo by 9,623.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after purchasing an additional 3,026,611 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $329,179,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock traded up $1.86 during mid-day trading on Friday, hitting $174.13. The company’s stock had a trading volume of 6,636,697 shares, compared to its average volume of 4,502,704. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $239.34 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.73 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The stock’s fifty day moving average price is $168.68 and its two-hundred day moving average price is $167.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio is 77.02%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEP. Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.92.

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.