STAR Financial Bank Sells 584 Shares of PepsiCo, Inc. (NASDAQ:PEP)

STAR Financial Bank lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,245 shares of the company’s stock after selling 584 shares during the period. PepsiCo makes up about 1.2% of STAR Financial Bank’s investment portfolio, making the stock its 19th largest position. STAR Financial Bank’s holdings in PepsiCo were worth $1,525,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in shares of PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after acquiring an additional 1,133 shares during the last quarter. Aveo Capital Partners LLC raised its position in PepsiCo by 4.4% in the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC lifted its stake in PepsiCo by 56.0% in the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after purchasing an additional 2,974 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of PepsiCo by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after buying an additional 3,635 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $1,136,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PEP. TD Cowen cut their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Down 0.2 %

PEP stock opened at $177.81 on Wednesday. The firm’s fifty day moving average is $171.55 and its 200 day moving average is $171.29. The firm has a market cap of $244.23 billion, a PE ratio of 25.81, a P/E/G ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 EPS. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.05%. PepsiCo’s dividend payout ratio is currently 78.66%.

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.