1ST Source Bank Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

1ST Source Bank lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 69,794 shares of the company’s stock after selling 526 shares during the quarter. PepsiCo comprises about 0.6% of 1ST Source Bank’s holdings, making the stock its 23rd largest position. 1ST Source Bank’s holdings in PepsiCo were worth $10,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Collier Financial purchased a new stake in PepsiCo in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter valued at approximately $31,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $34,000. Finally, Human Investing LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $148.59 on Monday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The stock has a market cap of $203.79 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. 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 firm has a fifty day moving average price of $148.76 and a 200 day moving average price of $159.89.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating 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 firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the company earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.65%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Barclays boosted their price target on shares of PepsiCo from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. UBS Group dropped their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup dropped their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $170.59.

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.