First National Bank of Omaha Sells 2,954 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First National Bank of Omaha reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the third quarter, Holdings Channel reports. The institutional investor owned 133,912 shares of the company’s stock after selling 2,954 shares during the period. PepsiCo makes up 1.5% of First National Bank of Omaha’s investment portfolio, making the stock its 9th largest holding. First National Bank of Omaha’s holdings in PepsiCo were worth $22,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Finally, Bank of America decreased their price target 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

PepsiCo stock opened at $157.79 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The firm has a market capitalization of $216.49 billion, a P/E ratio of 23.27, a PEG ratio of 2.98 and a beta of 0.52. The business has a fifty day moving average price of $166.83 and a 200-day moving average price of $169.64.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.