First PREMIER Bank Purchases 271 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 21st, 2023

First PREMIER Bank lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,987 shares of the company’s stock after purchasing an additional 271 shares during the quarter. PepsiCo accounts for 1.5% of First PREMIER Bank’s investment portfolio, making the stock its 21st largest holding. First PREMIER Bank’s holdings in PepsiCo were worth $5,102,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its position in PepsiCo by 95,514.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after acquiring an additional 42,831,405 shares in the last quarter. Norges Bank bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $2,519,707,000. Morgan Stanley boosted its position in shares of PepsiCo by 21.0% during the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after buying an additional 4,629,947 shares during the last quarter. Cottage Street Advisors LLC grew its holdings in PepsiCo by 16,362.5% during the fourth quarter. Cottage Street Advisors LLC now owns 3,272,900 shares of the company’s stock worth $361,000 after buying an additional 3,253,019 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in PepsiCo by 99.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,174,183 shares of the company’s stock valued at $741,889,000 after buying an additional 2,085,204 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. StockNews.com initiated coverage on PepsiCo in a report on Thursday, May 18th. They issued a “buy” rating for the company. Sanford C. Bernstein upgraded PepsiCo from an “underperform” rating to a “market perform” rating in a report on Monday, March 20th. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada lifted their price objective on shares of PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $190.25.

PepsiCo Stock Down 0.4 %

PepsiCo stock opened at $185.31 on Wednesday. The firm has a 50 day simple moving average of $187.46 and a 200 day simple moving average of $181.13. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. PepsiCo, Inc. has a 1-year low of $157.35 and a 1-year high of $196.88. The firm has a market capitalization of $255.30 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 3.25 and a beta of 0.54.

PepsiCo (NASDAQ:PEP – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.13. The company had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 7.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be given a $1.265 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio (DPR) is 106.53%.

About PepsiCo

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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