Fifth Third Bancorp Sells 36,880 Shares of PepsiCo, Inc. $PEP

Fifth Third Bancorp reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989,938 shares of the company’s stock after selling 36,880 shares during the quarter. Fifth Third Bancorp’s holdings in PepsiCo were worth $134,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Auto Owners Insurance Co grew its holdings in PepsiCo by 14,857.8% in the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock valued at $7,068,777,000 after buying an additional 48,923,629 shares in the last quarter. Norges Bank acquired a new position in shares of PepsiCo in the fourth quarter valued at about $3,018,813,000. Diamant Asset Management Inc. increased its position in PepsiCo by 16,146.5% during the first quarter. Diamant Asset Management Inc. now owns 3,586,423 shares of the company’s stock worth $556,936,000 after acquiring an additional 3,564,348 shares during the period. Assenagon Asset Management S.A. boosted its holdings in PepsiCo by 952.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,715,812 shares of the company’s stock valued at $503,121,000 after purchasing an additional 3,362,794 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of PepsiCo by 120.7% in the third quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock valued at $830,902,000 after buying an additional 3,235,726 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insider Transactions at PepsiCo

In other PepsiCo news, EVP David Flavell sold 2,900 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $139.54, for a total transaction of $404,666.00. Following the sale, the executive vice president owned 74,825 shares of the company’s stock, valued at approximately $10,441,080.50. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PEP shares. Wells Fargo & Company reduced their price target on PepsiCo from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Bank of America cut their price objective on shares of PepsiCo from $173.00 to $164.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft set a $155.00 price target on PepsiCo in a research note on Friday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $178.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, TD Cowen cut their target price on shares of PepsiCo from $150.00 to $145.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $157.90.

PepsiCo Price Performance

PEP stock opened at $143.48 on Friday. The company has a market capitalization of $195.83 billion, a P/E ratio of 18.80, a PEG ratio of 3.12 and a beta of 0.35. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.74 and a current ratio of 0.93. PepsiCo, Inc. has a 52-week low of $133.73 and a 52-week high of $171.48. The company has a fifty day moving average price of $140.02 and a 200-day moving average price of $150.30.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 9th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.01. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The company had revenue of $24.18 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.57 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 4th. PepsiCo’s dividend payout ratio (DPR) is currently 77.59%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.