Parkside Financial Bank & Trust Has $1.63 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Parkside Financial Bank & Trust lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,437 shares of the company’s stock after selling 244 shares during the period. PepsiCo makes up about 0.5% of Parkside Financial Bank & Trust’s holdings, making the stock its 29th biggest position. Parkside Financial Bank & Trust’s holdings in PepsiCo were worth $1,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gantzert Investment Co. LLC ADV bought a new position in shares of PepsiCo during the fourth quarter worth about $2,231,000. Beach Investment Management LLC. bought a new position in PepsiCo in the 4th quarter valued at about $832,000. Beach Investment Counsel Inc. PA grew its position in PepsiCo by 202.3% in the 4th quarter. Beach Investment Counsel Inc. PA now owns 109,242 shares of the company’s stock valued at $12,308,000 after buying an additional 73,110 shares in the last quarter. Montag & Caldwell LLC grew its position in PepsiCo by 26.2% in the 4th quarter. Montag & Caldwell LLC now owns 7,231 shares of the company’s stock valued at $799,000 after buying an additional 1,500 shares in the last quarter. Finally, Torch Wealth Management LLC grew its position in PepsiCo by 4.3% in the 4th quarter. Torch Wealth Management LLC now owns 20,725 shares of the company’s stock valued at $2,290,000 after buying an additional 860 shares in the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total value of $324,159.00. Following the completion of the transaction, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

PEP has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $115.00 target price on shares of PepsiCo and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Atlantic Securities initiated coverage on shares of PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 target price for the company. Bank of America increased their target price on shares of PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Argus reiterated a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. Finally, Morgan Stanley increased their target price on shares of PepsiCo from $137.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $129.35.

Shares of NASDAQ PEP traded down $0.52 during mid-day trading on Thursday, reaching $131.82. The company had a trading volume of 68,225 shares, compared to its average volume of 4,560,547. The stock has a fifty day moving average of $130.86 and a two-hundred day moving average of $125.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization of $185.36 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 3.44 and a beta of 0.60. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $135.24.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $16.45 billion during the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 67.49%.

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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