Trust Point Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Trust Point Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,489 shares of the company’s stock after selling 782 shares during the quarter. Trust Point Inc.’s holdings in PepsiCo were worth $3,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Geode Capital Management LLC grew its holdings in PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after purchasing an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Norges Bank purchased a new stake in PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Finally, Northern Trust Corp grew its holdings in PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.1%

NASDAQ PEP opened at $130.85 on Monday. The company’s fifty day simple moving average is $134.63 and its 200-day simple moving average is $144.96. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock has a market cap of $179.41 billion, a P/E ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is 83.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays reduced their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Morgan Stanley reduced their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Finally, Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $160.69.

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.