First National Bank of Omaha Takes $19.46 Million Position in PepsiCo, Inc. $PEP

First National Bank of Omaha acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, Holdings Channel reports. The fund acquired 138,529 shares of the company’s stock, valued at approximately $19,455,000. PepsiCo makes up approximately 1.2% of First National Bank of Omaha’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors also recently made changes to their positions in PEP. Three Bridge Wealth Advisors LLC lifted its position in PepsiCo by 1.8% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock worth $544,000 after acquiring an additional 68 shares in the last quarter. Facet Wealth Inc. lifted its position in shares of PepsiCo by 3.2% during the third quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock worth $312,000 after purchasing an additional 69 shares during the last quarter. Hudock Inc. increased its holdings in shares of PepsiCo by 1.0% in the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock valued at $994,000 after acquiring an additional 70 shares during the last quarter. Delta Asset Management LLC TN lifted its position in shares of PepsiCo by 0.6% in the 3rd quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock worth $1,545,000 after buying an additional 70 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in PepsiCo by 2.8% in the third quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock valued at $366,000 after acquiring an additional 70 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Down 2.4%

NASDAQ:PEP opened at $161.92 on Wednesday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The firm has a market capitalization of $221.29 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.16 and a beta of 0.40. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The business’s 50-day moving average price is $150.36 and its two-hundred day moving average price is $147.51.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The firm had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo declared that its Board of Directors has approved a stock buyback program on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s dividend payout ratio (DPR) is currently 94.83%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research report on Tuesday, October 21st. BNP Paribas Exane set a $191.00 price objective on PepsiCo in a research report on Wednesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $164.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Piper Sandler lifted their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Finally, UBS Group reiterated a “buy” rating and issued a $190.00 target price on shares of PepsiCo in a research report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $167.83.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.