1ST Source Bank Sells 1,573 Shares of PepsiCo, Inc. $PEP

1ST Source Bank reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,496 shares of the company’s stock after selling 1,573 shares during the period. PepsiCo accounts for 0.5% of 1ST Source Bank’s holdings, making the stock its 29th biggest holding. 1ST Source Bank’s holdings in PepsiCo were worth $8,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. JSF Financial LLC lifted its position in PepsiCo by 3.8% in the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after acquiring an additional 69 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after purchasing an additional 72 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of PepsiCo by 0.5% during the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after buying an additional 74 shares during the last quarter. Bull Street Advisors LLC grew its holdings in PepsiCo by 0.4% during the second quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock worth $2,628,000 after buying an additional 74 shares in the last quarter. Finally, Guardian Wealth Advisors LLC raised its position in PepsiCo by 1.6% in the 2nd quarter. Guardian Wealth Advisors LLC now owns 4,562 shares of the company’s stock valued at $602,000 after buying an additional 74 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0%

NASDAQ PEP opened at $142.95 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock’s 50 day moving average is $145.31 and its 200 day moving average is $139.73. The firm has a market capitalization of $195.46 billion, a PE ratio of 27.18, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $166.88.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. PepsiCo’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on PEP. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research report on Tuesday, October 21st. Evercore ISI increased their target price on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Piper Sandler lifted their price target on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Morgan Stanley upped their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $156.95.

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.