PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Whittier Trust Co. of Nevada Inc.

by · The Cerbat Gem

Whittier Trust Co. of Nevada Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 92,382 shares of the company’s stock after selling 8,448 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in PepsiCo were worth $13,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after acquiring an additional 582,254 shares during the last quarter. Norges Bank purchased a new stake in shares of PepsiCo in the fourth quarter valued at $2,729,565,000. Northern Trust Corp grew its position in shares of 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. Finally, Bank of New York Mellon Corp grew its position in shares of PepsiCo by 0.4% in 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 purchasing an additional 49,699 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PEP. Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada reissued a “sector perform” rating and set a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 24th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $158.19.

Get Our Latest Stock Report on PEP

PepsiCo Trading Up 0.2%

NASDAQ:PEP opened at $135.57 on Tuesday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The business’s 50-day simple moving average is $131.56 and its 200 day simple moving average is $141.38. The stock has a market cap of $185.88 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm posted $1.61 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.20%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is presently 83.68%.

About PepsiCo

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP – Free Report).