Burke & Herbert Bank & Trust Co. Has $3.45 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Burke & Herbert Bank & Trust Co. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,036 shares of the company’s stock after selling 246 shares during the period. PepsiCo makes up approximately 0.8% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 29th largest position. Burke & Herbert Bank & Trust Co.’s holdings in PepsiCo were worth $3,454,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Norges Bank bought a new position in PepsiCo during the fourth quarter valued at about $2,729,565,000. Northern Trust Corp increased its stake in PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in PepsiCo by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock valued at $2,108,585,000 after acquiring an additional 49,699 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.7%

NASDAQ PEP opened at $135.58 on Friday. The firm has a market cap of $185.88 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The stock’s 50 day simple moving average is $131.40 and its 200 day simple moving average is $142.26. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last released its quarterly 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 business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.20%. PepsiCo’s dividend payout ratio is 83.68%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEP. Evercore ISI set a $140.00 price target on PepsiCo in a research note on Thursday, April 24th. Barclays lowered their price target on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Bank of America lowered their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $159.75.

About PepsiCo

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.