City State Bank Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

City State Bank grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,164 shares of the company’s stock after purchasing an additional 322 shares during the quarter. City State Bank’s holdings in PepsiCo were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tcfg Wealth Management LLC increased its holdings in PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after acquiring an additional 66 shares in the last quarter. TAGStone Capital Inc. boosted its stake in PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares during the period. Lokken Investment Group LLC boosted its stake in PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares during the period. Leavell Investment Management Inc. boosted its stake in PepsiCo by 0.3% in the 4th quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock worth $4,271,000 after purchasing an additional 71 shares during the period. Finally, Legacy Financial Group LLC boosted its stake in PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8%

NASDAQ:PEP opened at $130.03 on Friday. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The company has a market cap of $178.28 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The stock has a fifty day simple moving average of $136.15 and a 200-day simple moving average of $146.25. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, June 6th. PepsiCo’s payout ratio is presently 83.68%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PEP shares. Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $160.69.

PepsiCo 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.