Citizens Business Bank Sells 419 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Citizens Business Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,090 shares of the company’s stock after selling 419 shares during the quarter. Citizens Business Bank’s holdings in PepsiCo were worth $525,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PEP. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock worth $3,121,736,000 after purchasing an additional 920,032 shares during the period. Northern Trust Corp increased its stake in shares of PepsiCo by 3.7% in the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after buying an additional 595,357 shares during the period. California Public Employees Retirement System raised its holdings in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in PepsiCo by 9.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock valued at $1,239,629,000 after buying an additional 608,321 shares during the period. Finally, Deutsche Bank AG increased its position in shares of PepsiCo by 2.1% in the third quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock valued at $1,147,922,000 after acquiring an additional 142,243 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Wedbush reaffirmed an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Monday, March 18th. Finally, Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.42.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.23 during midday trading on Tuesday, hitting $175.91. 4,465,101 shares of the company’s stock traded hands, compared to its average volume of 5,806,826. The firm has a fifty day moving average of $169.60 and a 200 day moving average of $168.05. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The stock has a market capitalization of $241.84 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same period in the prior year, the firm posted $1.50 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

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 $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

About PepsiCo

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.