Huntington National Bank Sells 31,781 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Huntington National Bank decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 421,636 shares of the company’s stock after selling 31,781 shares during the period. Huntington National Bank’s holdings in PepsiCo were worth $64,114,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Collier Financial bought a new stake in shares of PepsiCo in the 4th quarter worth about $28,000. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.2 %

PepsiCo stock opened at $149.67 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market capitalization of $205.27 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 3.09 and a beta of 0.52. The company’s 50 day simple moving average is $149.30 and its 200 day simple moving average is $157.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.62%. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Ratings Changes

A number of research firms have commented on PEP. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI reduced their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price on the stock. Finally, BNP Paribas lowered their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $169.88.

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.