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

Huntington National Bank decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Portfolio Partners LLC increased its stake in shares of PepsiCo by 4.0% in the 4th quarter. Private Portfolio Partners LLC now owns 3,287 shares of the company's stock worth $500,000 after acquiring an additional 125 shares in the last quarter. Kesler Norman & Wride LLC grew its holdings in PepsiCo by 4.5% in the fourth quarter. Kesler Norman & Wride LLC now owns 13,793 shares of the company's stock worth $2,098,000 after purchasing an additional 593 shares during the period. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of PepsiCo by 2.3% during the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 17,004 shares of the company's stock valued at $2,586,000 after purchasing an additional 380 shares during the last quarter. Potomac Fund Management Inc. ADV bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $924,000. Finally, Trexquant Investment LP purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $7,083,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PEP shares. Royal Bank of Canada assumed coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 target price on the stock. UBS Group reduced their price objective on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Morgan Stanley dropped their target price on shares of PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Barclays downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $168.00 to $156.00 in a research report on Tuesday, March 18th. Finally, CICC Research reiterated a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $169.88.

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PepsiCo Stock Performance

PepsiCo stock traded down $0.55 during trading on Wednesday, reaching $149.12. The company had a trading volume of 5,855,749 shares, compared to its average volume of 5,899,894. The firm's 50-day simple moving average is $149.32 and its 200 day simple moving average is $157.46. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a market capitalization of $204.52 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company's revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.63%. PepsiCo's payout ratio is 77.99%.

PepsiCo Company 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.