PNC Financial Services Group Inc. Sells 110,990 Shares of PepsiCo, Inc. (NASDAQ:PEP)

PNC Financial Services Group Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,567,532 shares of the company’s stock after selling 110,990 shares during the period. PNC Financial Services Group Inc. owned 0.33% of PepsiCo worth $694,539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Bank of New York Mellon Corp grew its holdings in PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after buying an additional 689,383 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1 %

NASDAQ PEP opened at $154.44 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a market capitalization of $211.81 billion, a PE ratio of 22.22, a PEG 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 business’s 50-day moving average is $148.80 and its 200 day moving average is $160.96.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PEP shares. Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Barclays lifted their price target on PepsiCo from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $172.35.

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.