Comerica Bank Has $97.16 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Comerica Bank reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 572,081 shares of the company’s stock after selling 6,153 shares during the period. Comerica Bank’s holdings in PepsiCo were worth $97,162,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Concentric Wealth Management LLC grew its stake in shares of PepsiCo by 17.8% during the fourth quarter. Concentric Wealth Management LLC now owns 37,700 shares of the company’s stock worth $6,403,000 after buying an additional 5,702 shares during the last quarter. Midland Wealth Advisors LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $4,636,000. Pathstone Holdings LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $41,398,000. Orleans Capital Management Corp LA grew its stake in shares of PepsiCo by 1.8% in the fourth quarter. Orleans Capital Management Corp LA now owns 10,943 shares of the company’s stock worth $1,859,000 after purchasing an additional 190 shares during the last quarter. Finally, LM Advisors LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $262,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.8 %

Shares of PEP traded down $1.24 on Wednesday, reaching $163.83. The company’s stock had a trading volume of 6,279,238 shares, compared to its average volume of 5,519,066. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a market capitalization of $225.23 billion, a PE ratio of 24.64, a PEG ratio of 2.71 and a beta of 0.52. The firm has a fifty day moving average of $174.20 and a 200-day moving average of $170.47.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.31%. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PEP shares. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Barclays cut their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus price target of $187.17.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

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.