Webster Bank N. A. Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Webster Bank N. A. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,462 shares of the company’s stock after selling 739 shares during the quarter. PepsiCo accounts for 0.9% of Webster Bank N. A.’s investment portfolio, making the stock its 26th largest holding. Webster Bank N. A.’s holdings in PepsiCo were worth $8,481,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PEP. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after acquiring an additional 578,083 shares during the last quarter. Norges Bank acquired a new stake in PepsiCo in the 4th quarter valued at about $2,686,139,000. California Public Employees Retirement System grew its stake in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8 %

Shares of PEP stock traded down $1.33 during mid-day trading on Friday, reaching $164.93. 8,756,033 shares of the company were exchanged, compared to its average volume of 5,392,291. The company has a market capitalization of $226.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52. The business’s 50 day simple moving average is $173.37 and its 200 day simple moving average is $170.30. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.29%. PepsiCo’s payout ratio is 81.50%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PEP shares. Barclays decreased their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Jefferies Financial Group raised their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $186.38.

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.