OLD National Bancorp IN Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

OLD National Bancorp IN reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,441 shares of the company’s stock after selling 1,905 shares during the quarter. OLD National Bancorp IN’s holdings in PepsiCo were worth $10,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter valued at $2,729,565,000. Finally, Northern Trust Corp grew its holdings in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.8%

PEP stock opened at $130.03 on Friday. The stock has a market capitalization of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.45. The firm has a 50-day simple moving average of $136.15 and a 200-day simple moving average of $146.16. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

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

Analysts Set New Price Targets

PEP has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Citigroup decreased their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Finally, Morgan Stanley decreased their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.69.

About PepsiCo

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.