Associated Banc Corp Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Associated Banc Corp lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,484 shares of the company’s stock after selling 226 shares during the quarter. Associated Banc Corp’s holdings in PepsiCo were worth $27,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its position in shares of 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 shares of PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the 2nd quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PEP stock traded up $1.37 during trading on Monday, reaching $163.37. The company’s stock had a trading volume of 214,016 shares, compared to its average volume of 5,464,097. The company’s fifty day moving average is $169.01 and its 200-day moving average is $170.89. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The company has a market capitalization of $224.14 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.32%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEP shares. Barclays lowered their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $183.92.

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.