Bokf Na Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Bokf Na cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,343 shares of the company’s stock after selling 19,003 shares during the quarter. Bokf Na’s holdings in PepsiCo were worth $32,548,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in PepsiCo during the fourth quarter worth $2,686,139,000. Franklin Resources Inc. raised its stake in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after buying an additional 1,345,065 shares during the last quarter. Stifel Financial Corp boosted its position in shares of PepsiCo by 15.7% in the 4th quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock worth $869,869,000 after buying an additional 693,873 shares in the last quarter. Sanders Capital LLC grew its stake in PepsiCo by 2.9% in the 4th quarter. Sanders Capital LLC now owns 4,755,895 shares of the company’s stock valued at $807,741,000 after acquiring an additional 135,300 shares during the last quarter. Finally, Flossbach Von Storch AG increased its holdings in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen cut their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Price Performance

PEP opened at $175.78 on Thursday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company’s 50 day simple moving average is $171.82 and its 200 day simple moving average is $171.33. The stock has a market capitalization of $241.45 billion, a PE ratio of 25.51, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.