Associated Banc Corp Sells 226 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Associated Banc Corp decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,484 shares of the company’s stock after selling 226 shares during the period. Associated Banc Corp’s holdings in PepsiCo were worth $27,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in PepsiCo during the 3rd quarter valued at $9,589,000. M&G Plc increased its holdings in shares of PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Finally, Fiduciary Family Office LLC boosted its position in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEP shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

NASDAQ PEP traded up $1.37 on Monday, hitting $163.37. The company had a trading volume of 214,016 shares, compared to its average volume of 5,464,097. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $224.14 billion, a PE ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41. The company’s fifty day moving average price is $169.01 and its 200-day moving average price is $170.89.

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

PepsiCo Announces Dividend

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

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.