Iowa State Bank Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Iowa State Bank lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,035 shares of the company’s stock after selling 904 shares during the quarter. PepsiCo makes up approximately 1.3% of Iowa State Bank’s holdings, making the stock its 28th largest holding. Iowa State Bank’s holdings in PepsiCo were worth $6,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. Janus Henderson Group PLC boosted its position in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. IHT Wealth Management LLC grew its holdings in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. Meridian Wealth Management LLC purchased a new position in PepsiCo during the third quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at $527,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 1.4 %

Shares of NASDAQ:PEP traded down $2.12 during midday trading on Monday, reaching $147.53. The company had a trading volume of 4,360,696 shares, compared to its average volume of 4,765,378. PepsiCo, Inc. has a one year low of $146.95 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market capitalization of $202.41 billion, a P/E ratio of 21.76, a PEG ratio of 2.94 and a beta of 0.54. The stock’s fifty day moving average price is $159.51 and its 200-day moving average price is $167.26.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company posted $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.67%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PEP shares. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $184.31.

PepsiCo Profile

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.