PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Webster Bank N. A.

Posted by on Jun 25th, 2023

Webster Bank N. A. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,915 shares of the company’s stock after selling 866 shares during the period. PepsiCo makes up approximately 1.2% of Webster Bank N. A.’s portfolio, making the stock its 21st biggest holding. Webster Bank N. A.’s holdings in PepsiCo were worth $8,917,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Trinity Legacy Partners LLC boosted its stake in shares of PepsiCo by 0.3% in the first quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock valued at $5,701,000 after buying an additional 93 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in PepsiCo by 1.6% in the fourth quarter. Mawer Investment Management Ltd. now owns 448,860 shares of the company’s stock valued at $81,091,000 after purchasing an additional 7,122 shares during the last quarter. Suncoast Equity Management grew its holdings in PepsiCo by 15.2% in the fourth quarter. Suncoast Equity Management now owns 8,345 shares of the company’s stock valued at $1,508,000 after purchasing an additional 1,100 shares during the last quarter. AXS Investments LLC grew its holdings in PepsiCo by 1.0% in the fourth quarter. AXS Investments LLC now owns 6,203 shares of the company’s stock valued at $1,121,000 after purchasing an additional 62 shares during the last quarter. Finally, Renaissance Investment Group LLC grew its holdings in PepsiCo by 1.9% in the fourth quarter. Renaissance Investment Group LLC now owns 48,250 shares of the company’s stock valued at $8,717,000 after purchasing an additional 899 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PEP shares. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Barclays upped their target price on PepsiCo from $201.00 to $206.00 in a report on Thursday, April 27th. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Morgan Stanley increased their price objective on PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Finally, StockNews.com began coverage on PepsiCo in a research note on Thursday, May 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $190.25.

PepsiCo Stock Performance

NASDAQ PEP opened at $186.07 on Friday. The business’s 50-day moving average price is $187.54 and its 200 day moving average price is $181.26. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The company has a market capitalization of $256.35 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 3.25 and a beta of 0.54. 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 (NASDAQ:PEP – Get Rating) last released its earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm had revenue of $17.85 billion for the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research 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 issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date is Thursday, June 1st. PepsiCo’s dividend payout ratio (DPR) is 106.53%.

PepsiCo Company Profile

(Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

Read More

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP – Get Rating).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.