Intrust Bank NA Sells 749 Shares of PepsiCo, Inc. $PEP

Intrust Bank NA lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,158 shares of the company’s stock after selling 749 shares during the period. Intrust Bank NA’s holdings in PepsiCo were worth $1,737,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEP. Nuveen LLC purchased a new position in shares of PepsiCo in the first quarter worth $946,978,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of PepsiCo during the second quarter worth about $460,110,000. Acadian Asset Management LLC raised its position in PepsiCo by 175.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock valued at $392,076,000 after purchasing an additional 1,892,469 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after buying an additional 1,802,748 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after buying an additional 1,258,198 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.6%

PEP opened at $145.85 on Monday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $165.13. 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 50 day moving average price of $144.95 and a 200-day moving average price of $140.06. The stock has a market capitalization of $199.43 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research analyst reports. Piper Sandler raised their price target on PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. HSBC upped their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Finally, Rothschild & Co Redburn raised their price objective on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $156.95.

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.