First PREMIER Bank Has $2.86 Million Holdings in Pepsico, Inc. (PEP)

First PREMIER Bank lessened its stake in shares of Pepsico, Inc. (NYSE:PEP) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,727 shares of the company’s stock after selling 573 shares during the period. Pepsico accounts for 2.1% of First PREMIER Bank’s portfolio, making the stock its 12th largest holding. First PREMIER Bank’s holdings in Pepsico were worth $2,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Independent Portfolio Consultants Inc. grew its stake in shares of Pepsico by 11.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,285 shares of the company’s stock worth $841,000 after acquiring an additional 736 shares during the last quarter. McQueen Ball & Associates Inc. grew its stake in shares of Pepsico by 0.6% in the second quarter. McQueen Ball & Associates Inc. now owns 20,589 shares of the company’s stock worth $2,378,000 after acquiring an additional 114 shares during the last quarter. Pensionfund Sabic acquired a new stake in shares of Pepsico in the second quarter worth $3,349,000. Pensionfund DSM Netherlands acquired a new stake in shares of Pepsico in the second quarter worth $6,698,000. Finally, Atlantic Trust LLC grew its stake in shares of Pepsico by 8.7% in the first quarter. Atlantic Trust LLC now owns 4,395 shares of the company’s stock worth $492,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

In related news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares in the company, valued at approximately $8,878,840.49. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research note on Thursday, May 25th. Jefferies Group LLC restated a “buy” rating and issued a $127.00 price objective on shares of Pepsico in a research note on Friday, May 19th. Finally, Cowen and Company restated an “outperform” rating and issued a $128.00 price objective on shares of Pepsico in a research note on Thursday, July 13th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Pepsico currently has a consensus rating of “Buy” and a consensus target price of $123.44.

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Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.58% on Friday, hitting $114.85. The company’s stock had a trading volume of 5,543,002 shares. The stock’s 50-day moving average price is $116.42 and its 200-day moving average price is $114.56. The firm has a market cap of $163.72 billion, a price-to-earnings ratio of 24.32 and a beta of 0.68. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. Pepsico also saw unusually large options trading on Wednesday. Stock traders purchased 1,176 call options on the stock. This is an increase of 536% compared to the average volume of 185 call options.

Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. During the same period in the prior year, the firm posted $1.35 EPS. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.80%. Pepsico’s dividend payout ratio is currently 68.22%.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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