PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Hawaiian Bank

First Hawaiian Bank decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,209 shares of the company’s stock after selling 3,587 shares during the quarter. First Hawaiian Bank’s holdings in PepsiCo were worth $2,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CI Investments Inc. boosted its holdings in PepsiCo by 2.1% during the third quarter. CI Investments Inc. now owns 35,366 shares of the company’s stock worth $5,992,000 after buying an additional 742 shares in the last quarter. CenterBook Partners LP lifted its position in shares of PepsiCo by 115.3% in the 3rd quarter. CenterBook Partners LP now owns 8,337 shares of the company’s stock valued at $1,413,000 after acquiring an additional 4,464 shares in the last quarter. Dark Forest Capital Management LP lifted its position in PepsiCo by 52.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 13,925 shares of the company’s stock worth $2,359,000 after buying an additional 4,809 shares in the last quarter. LPL Financial LLC lifted its position in PepsiCo by 6.5% in the 3rd quarter. LPL Financial LLC now owns 1,429,309 shares of the company’s stock worth $242,182,000 after buying an additional 87,220 shares in the last quarter. Finally, Rodgers Brothers Inc. lifted its position in PepsiCo by 6.2% in the 3rd quarter. Rodgers Brothers Inc. now owns 30,945 shares of the company’s stock worth $5,243,000 after buying an additional 1,808 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group increased their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.17.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP traded up $0.34 during midday trading on Wednesday, reaching $166.48. The stock had a trading volume of 3,519,509 shares, compared to its average volume of 5,045,383. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The firm’s fifty day simple moving average is $173.81 and its 200-day simple moving average is $170.39. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The stock has a market capitalization of $228.88 billion, a P/E ratio of 25.03, a PEG ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $1.50 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.26%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

PepsiCo Company 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.