CENTRAL TRUST Co Trims Stock Position in PepsiCo, Inc. $PEP

CENTRAL TRUST Co lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 149,676 shares of the company’s stock after selling 4,787 shares during the period. CENTRAL TRUST Co’s holdings in PepsiCo were worth $23,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of PepsiCo in the 4th quarter valued at about $26,000. Swiss RE Ltd. purchased a new stake in PepsiCo in the fourth quarter valued at approximately $28,000. MH & Associates Securities Management Corp ADV acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $29,000. Vermillion Wealth Management Inc. grew its position in shares of PepsiCo by 99.1% during the first quarter. Vermillion Wealth Management Inc. now owns 217 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. Finally, Imprint Wealth LLC purchased a new position in shares of PepsiCo during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler reduced their price target on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. BNP Paribas Exane raised their price target on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. The Goldman Sachs Group boosted their price target on PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada decreased their price objective on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $167.10.

PepsiCo Stock Up 1.0%

PEP stock opened at $142.05 on Wednesday. The stock has a market capitalization of $194.15 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.80 and a beta of 0.35. The company has a fifty day moving average of $149.26 and a 200-day moving average of $152.16. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is presently 92.94%.

PepsiCo Company Profile

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.