First Merchants Corp reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 58,112 shares of the company’s stock after selling 641 shares during the period. PepsiCo comprises about 1.2% of First Merchants Corp’s holdings, making the stock its 16th biggest position. First Merchants Corp’s holdings in PepsiCo were worth $6,421,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after buying an additional 1,595,038 shares during the last quarter. Vanguard Group Inc raised its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after buying an additional 1,595,038 shares during the last quarter. BlackRock Inc. grew its stake in shares of PepsiCo by 1.0% during the 3rd quarter. BlackRock Inc. now owns 94,826,560 shares of the company’s stock worth $10,601,611,000 after purchasing an additional 974,404 shares during the period. Bank of New York Mellon Corp grew its stake in shares of PepsiCo by 3,272,537.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,930,365 shares of the company’s stock worth $2,228,213,000 after purchasing an additional 19,929,756 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of PepsiCo by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 6,851,582 shares of the company’s stock worth $756,963,000 after purchasing an additional 193,336 shares during the period. 72.30% of the stock is owned by hedge funds and other institutional investors.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of PepsiCo stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the sale, the chief executive officer now owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.28% of the company’s stock.
PepsiCo stock opened at $122.41 on Wednesday. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $124.00. The firm has a market capitalization of $173.65 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.06 and a beta of 0.65. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.85 and a current ratio of 0.99.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 15th. The company reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. PepsiCo had a net margin of 19.35% and a return on equity of 69.83%. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.52 billion. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $0.9275 per share. The ex-dividend date was Thursday, February 28th. This represents a $3.71 annualized dividend and a yield of 3.03%. PepsiCo’s dividend payout ratio (DPR) is presently 65.55%.
A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Barclays reaffirmed a “hold” rating and set a $111.00 price objective (up previously from $104.00) on shares of PepsiCo in a research note on Monday, February 18th. Gabelli reaffirmed a “buy” rating on shares of PepsiCo in a research note on Tuesday, February 19th. Finally, Macquarie raised shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price objective on the stock in a research note on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $118.79.
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PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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