First Interstate Bank Lowers Holdings in PepsiCo, Inc. $PEP

First Interstate Bank reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 63.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,571 shares of the company’s stock after selling 15,165 shares during the period. First Interstate Bank’s holdings in PepsiCo were worth $1,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Claris Advisors LLC MO lifted its stake in PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after buying an additional 308 shares in the last quarter. Merit Financial Group LLC boosted its stake in PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after buying an additional 36,239 shares during the last quarter. Clayton Financial Group LLC purchased a new stake in PepsiCo in the third quarter valued at approximately $872,000. Naples Global Advisors LLC boosted its holdings in shares of PepsiCo by 2.3% in the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after purchasing an additional 592 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in PepsiCo by 2.6% during the second quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after acquiring an additional 4,627 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. HSBC raised their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Wells Fargo & Company raised their price target on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Bank of America lifted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. BNP Paribas Exane raised shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $179.00 price objective for the company in a research report on Friday, January 16th. Finally, Rothschild & Co Redburn lifted their target price on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $161.32.

PepsiCo Trading Up 0.9%

PEP opened at $147.66 on Wednesday. The firm’s 50 day moving average is $145.74 and its 200-day moving average is $144.89. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $201.90 billion, a P/E ratio of 28.07, a P/E/G ratio of 4.79 and a beta of 0.42.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.9%. PepsiCo’s payout ratio is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.