Huntington National Bank increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 535,814 shares of the company’s stock after buying an additional 66,091 shares during the period. PepsiCo comprises about 1.1% of Huntington National Bank’s holdings, making the stock its 17th largest position. Huntington National Bank’s holdings in PepsiCo were worth $70,866,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lyell Wealth Management LP lifted its holdings in PepsiCo by 143.8% in the 2nd quarter. Lyell Wealth Management LP now owns 12,820 shares of the company’s stock valued at $1,696,000 after purchasing an additional 7,561 shares in the last quarter. Washington Trust Bank lifted its holdings in PepsiCo by 7.2% in the 2nd quarter. Washington Trust Bank now owns 7,597 shares of the company’s stock valued at $1,005,000 after purchasing an additional 512 shares in the last quarter. Mitchell Capital Management Co. lifted its holdings in PepsiCo by 2.7% in the 2nd quarter. Mitchell Capital Management Co. now owns 19,482 shares of the company’s stock valued at $2,577,000 after purchasing an additional 510 shares in the last quarter. State of Michigan Retirement System lifted its holdings in PepsiCo by 10.9% in the 2nd quarter. State of Michigan Retirement System now owns 354,398 shares of the company’s stock valued at $46,873,000 after purchasing an additional 34,769 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its holdings in PepsiCo by 2.0% in the 2nd quarter. Everett Harris & Co. CA now owns 422,365 shares of the company’s stock valued at $55,862,000 after purchasing an additional 8,265 shares in the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

PEP traded down $0.03 on Friday, reaching $137.66. 4,304,080 shares of the company’s stock were exchanged, compared to its average volume of 4,248,457. The company’s 50 day moving average is $133.06 and its 200-day moving average is $133.75. The company has a market cap of $191.04 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 4.60 and a beta of 0.58. PepsiCo, Inc. has a twelve month low of $101.42 and a twelve month high of $147.20. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.79 and a current ratio of 0.97.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.47 billion. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 5.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 3rd. PepsiCo’s dividend payout ratio (DPR) is presently 73.96%.

In other PepsiCo news, EVP Ronald Schellekens sold 7,611 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $135.35, for a total value of $1,030,148.85. Following the completion of the sale, the executive vice president now owns 36,639 shares of the company’s stock, valued at $4,959,088.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,600 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $134.32, for a total transaction of $349,232.00. Following the completion of the sale, the chief executive officer now directly owns 67,718 shares of the company’s stock, valued at approximately $9,095,881.76. The disclosure for this sale can be found here. Insiders sold 26,655 shares of company stock valued at $3,591,883 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

A number of research firms have issued reports on PEP. Guggenheim upped their target price on shares of PepsiCo from $134.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley reaffirmed a “buy” rating on shares of PepsiCo in a research note on Wednesday, May 13th. Cfra upped their price objective on shares of PepsiCo from $145.00 to $150.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 28th. Royal Bank of Canada reaffirmed a “buy” rating and set a $153.00 price objective on shares of PepsiCo in a research note on Tuesday, April 14th. Finally, Citigroup dropped their price objective on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $142.87.

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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