First Merchants Corp Sells 641 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Merchants Corp reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 58,112 shares of the company’s stock after selling 641 shares during the period. PepsiCo accounts for approximately 1.2% of First Merchants Corp’s portfolio, making the stock its 16th largest holding. First Merchants Corp’s holdings in PepsiCo were worth $6,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HC Financial Advisors Inc. boosted its stake in PepsiCo by 4.2% in the third quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock worth $1,003,000 after buying an additional 363 shares in the last quarter. Global Financial Private Capital LLC boosted its stake in shares of PepsiCo by 11.9% during the third quarter. Global Financial Private Capital LLC now owns 73,224 shares of the company’s stock valued at $8,186,000 after purchasing an additional 7,814 shares during the period. Palo Capital Inc. purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $1,012,000. Meritage Portfolio Management boosted its stake in shares of PepsiCo by 4.3% during the fourth quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock valued at $569,000 after purchasing an additional 210 shares during the period. Finally, CWM LLC boosted its stake in shares of PepsiCo by 155.2% during the fourth quarter. CWM LLC now owns 30,636 shares of the company’s stock valued at $3,385,000 after purchasing an additional 18,630 shares during the period. Hedge funds and other institutional investors own 71.85% of the company’s stock.

A number of equities analysts recently commented on PEP shares. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Gabelli restated a “buy” rating on shares of PepsiCo in a report on Tuesday, February 19th. Argus reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, April 18th. Bank of America increased their price objective on PepsiCo from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. PepsiCo presently has an average rating of “Hold” and a consensus target price of $124.53.

In related news, EVP David Yawman sold 25,263 shares of PepsiCo stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $126.42, for a total transaction of $3,193,748.46. Following the sale, the executive vice president now owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 7,800 shares of PepsiCo stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $125.99, for a total value of $982,722.00. Following the sale, the senior vice president now directly owns 55,665 shares in the company, valued at approximately $7,013,233.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,063 shares of company stock worth $5,701,110. Insiders own 0.28% of the company’s stock.

PepsiCo stock opened at $126.05 on Friday. The firm has a market cap of $176.66 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 3.22 and a beta of 0.66. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.75 and a current ratio of 0.94. PepsiCo, Inc. has a one year low of $96.36 and a one year high of $128.39.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.68 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.955 per share. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, June 6th. PepsiCo’s payout ratio is presently 65.55%.

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PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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