Midwest Trust Co Sells 12,149 Shares of PepsiCo, Inc. $PEP

Midwest Trust Co trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 365,041 shares of the company’s stock after selling 12,149 shares during the period. Midwest Trust Co’s holdings in PepsiCo were worth $52,391,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PEP. JCIC Asset Management Inc. bought a new position in PepsiCo during the third quarter valued at approximately $27,000. MH & Associates Securities Management Corp ADV bought a new stake in PepsiCo in the 4th quarter worth approximately $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $33,000. Finally, Strategic Advocates LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $154.62 on Friday. The business’s fifty day moving average is $157.25 and its 200 day moving average is $152.50. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The company has a market capitalization of $211.33 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.83 and a beta of 0.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s payout ratio is presently 89.32%.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a new partnership in the UAE’s Future Industries Lab to support SMEs and young Emiratis, reinforcing its innovation and local investment strategy. MoIAT expands Future Industries Lab with new PepsiCo partnership supporting SMEs and young Emiratis
• Positive Sentiment: PepsiCo and TalusAg Renewables announced a low-carbon ammonia agreement, an ESG-oriented move that could improve supply-chain sustainability and appeal to investors focused on emissions reduction. PepsiCo and TalusAg Renewables announce low-carbon ammonia attribute agreement to help accelerate fertilizer decarbonization
• Positive Sentiment: Multiple articles highlighted PepsiCo’s continued investment in China and its focus on international growth, product innovation, and cost discipline, which supports the long-term bull case. PepsiCo to ‘continue investing’ in Chinese market

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. Citigroup lifted their price objective on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Royal Bank Of Canada lowered their target price on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, April 9th. The Goldman Sachs Group boosted their price target on PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 17th. UBS Group reduced their price target on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Morgan Stanley raised their price objective on shares of PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $170.26.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.