First PREMIER Bank Has $4.69 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

First PREMIER Bank lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% during the first quarter, HoldingsChannel reports. The fund owned 26,777 shares of the company’s stock after selling 460 shares during the quarter. PepsiCo makes up about 1.2% of First PREMIER Bank’s portfolio, making the stock its 24th biggest holding. First PREMIER Bank’s holdings in PepsiCo were worth $4,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares during the period. Norges Bank bought a new stake in PepsiCo in the 4th quarter valued at $2,686,139,000. California Public Employees Retirement System increased its holdings in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the period. Franklin Resources Inc. increased its holdings in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after buying an additional 1,105,127 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday. They issued a “neutral” rating and a $174.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.15.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

PepsiCo Stock Up 0.3 %

NASDAQ PEP traded up $0.58 during trading hours on Monday, reaching $167.86. 1,662,671 shares of the company’s stock were exchanged, compared to its average volume of 5,494,684. The company’s 50-day moving average is $173.71 and its two-hundred day moving average is $170.36. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company has a market capitalization of $230.77 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.23%. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

PepsiCo Company Profile

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.