Amalgamated Bank Has $57.81 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Amalgamated Bank cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 340,389 shares of the company’s stock after selling 18,552 shares during the period. PepsiCo accounts for approximately 0.5% of Amalgamated Bank’s portfolio, making the stock its 27th biggest holding. Amalgamated Bank’s holdings in PepsiCo were worth $57,812,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sweet Financial Partners LLC lifted its holdings in PepsiCo by 15.6% during the 3rd quarter. Sweet Financial Partners LLC now owns 12,418 shares of the company’s stock worth $2,104,000 after purchasing an additional 1,678 shares during the last quarter. Toews Corp ADV acquired a new stake in PepsiCo during the 3rd quarter valued at approximately $779,000. Accurate Wealth Management LLC boosted its position in shares of PepsiCo by 4.7% during the 3rd quarter. Accurate Wealth Management LLC now owns 22,218 shares of the company’s stock valued at $3,564,000 after purchasing an additional 991 shares in the last quarter. Vicus Capital increased its stake in PepsiCo by 37.4% in the third quarter. Vicus Capital now owns 3,812 shares of the company’s stock valued at $646,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Hendershot Investments Inc. raised its holdings in PepsiCo by 0.6% during the third quarter. Hendershot Investments Inc. now owns 92,704 shares of the company’s stock worth $15,708,000 after buying an additional 586 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PEP shares. JPMorgan Chase & Co. boosted their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $0.30 during trading on Thursday, hitting $175.45. The stock had a trading volume of 3,913,517 shares, compared to its average volume of 5,747,822. The stock has a 50-day simple moving average of $169.87 and a two-hundred day simple moving average of $168.21. The stock has a market capitalization of $241.21 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.09%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is 76.09%.

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.