MidWestOne Financial Group Inc. Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

MidWestOne Financial Group Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,063 shares of the company’s stock after selling 1,613 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in PepsiCo were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Flossbach Von Storch AG boosted its holdings in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. PineStone Asset Management Inc. grew its position in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares during the period. Van ECK Associates Corp increased its stake in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new position in PepsiCo during the first quarter valued at $166,243,000. Finally, Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PEP. Barclays upped their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen cut their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Royal Bank of Canada decreased their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $185.53.

PepsiCo Price Performance

Shares of PEP stock opened at $170.00 on Friday. The firm has a market capitalization of $233.71 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The stock has a 50 day moving average price of $173.77 and a 200 day moving average price of $171.98.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.