Huntington National Bank cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 465,287 shares of the company’s stock after selling 19,709 shares during the period. PepsiCo accounts for 0.8% of Huntington National Bank’s investment portfolio, making the stock its 28th biggest position. Huntington National Bank’s holdings in PepsiCo were worth $50,656,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Jacobs & Co. CA boosted its holdings in PepsiCo by 0.7% in the 2nd quarter. Jacobs & Co. CA now owns 88,630 shares of the company’s stock valued at $9,649,000 after purchasing an additional 618 shares during the period. Heritage Investors Management Corp boosted its holdings in PepsiCo by 5.7% in the 2nd quarter. Heritage Investors Management Corp now owns 171,525 shares of the company’s stock valued at $18,674,000 after purchasing an additional 9,238 shares during the period. Chicago Capital LLC boosted its holdings in PepsiCo by 80.1% in the 2nd quarter. Chicago Capital LLC now owns 22,068 shares of the company’s stock valued at $2,403,000 after purchasing an additional 9,812 shares during the period. Stelac Advisory Services LLC boosted its holdings in PepsiCo by 29.8% in the 2nd quarter. Stelac Advisory Services LLC now owns 2,722 shares of the company’s stock valued at $296,000 after purchasing an additional 625 shares during the period. Finally, Narwhal Capital Management boosted its holdings in PepsiCo by 4.7% in the 2nd quarter. Narwhal Capital Management now owns 43,922 shares of the company’s stock valued at $4,782,000 after purchasing an additional 1,973 shares during the period. 70.40% of the stock is owned by institutional investors.
PepsiCo stock opened at $112.05 on Thursday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market cap of $158.62 billion, a PE ratio of 21.42, a P/E/G ratio of 2.64 and a beta of 0.71. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, July 10th. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.08. The firm had revenue of $16.09 billion for the quarter, compared to analysts’ expectations of $16.05 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. equities analysts forecast that PepsiCo, Inc. will post 5.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be given a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 70.94%.
PEP has been the subject of several analyst reports. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. SunTrust Banks raised their price target on shares of PepsiCo to $110.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Jefferies Financial Group reissued a “hold” rating and issued a $107.00 price target on shares of PepsiCo in a report on Monday, August 6th. JPMorgan Chase & Co. set a $128.00 price target on shares of PepsiCo and gave the company a “buy” rating in a report on Wednesday, July 11th. Finally, Zacks Investment Research raised shares of PepsiCo from a “sell” rating to a “hold” rating in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $119.67.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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