Chemung Canal Trust Co. reduced its position in PepsiCo Inc. (NYSE:PEP) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,279 shares of the company’s stock after selling 2,858 shares during the period. PepsiCo comprises 1.9% of Chemung Canal Trust Co.’s portfolio, making the stock its 16th largest position. Chemung Canal Trust Co.’s holdings in PepsiCo were worth $8,188,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. D. Scott Neal Inc. boosted its position in shares of PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock worth $100,000 after buying an additional 71 shares during the period. Piershale Financial Group Inc. boosted its position in shares of PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock worth $106,000 after buying an additional 4 shares during the period. Delphi Private Advisors LLC boosted its position in shares of PepsiCo by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock worth $106,000 after buying an additional 13 shares during the period. Global X Management Co. LLC boosted its position in shares of PepsiCo by 92.1% in the second quarter. Global X Management Co. LLC now owns 1,101 shares of the company’s stock worth $117,000 after buying an additional 528 shares during the period. Finally, Stelac Advisory Services LLC boosted its position in shares of PepsiCo by 13.9% in the second quarter. Stelac Advisory Services LLC now owns 1,185 shares of the company’s stock worth $126,000 after buying an additional 145 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for PepsiCo (NYSE:PEP)

PepsiCo Inc. (NYSE:PEP) traded down 1.08% on Wednesday, hitting $100.69. The stock had a trading volume of 2,973,528 shares. The company has a 50-day moving average price of $105.13 and a 200 day moving average price of $105.79. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The firm has a market cap of $144.41 billion, a PE ratio of 22.09 and a beta of 0.54.

PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. The company had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. Equities analysts forecast that PepsiCo Inc. will post $4.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.7525 per share. The ex-dividend date is Wednesday, November 30th. This represents a $3.01 annualized dividend and a yield of 2.94%. PepsiCo’s payout ratio is currently 66.01%.

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A number of brokerages have commented on PEP. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday. Bank of America Corp. reissued a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Friday, September 30th. Deutsche Bank AG reissued a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Monday, October 3rd. BMO Capital Markets reissued an “outperform” rating and set a $120.00 target price (up from $116.00) on shares of PepsiCo in a research note on Friday, September 30th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $122.00 target price on shares of PepsiCo in a research note on Friday, September 30th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. PepsiCo currently has an average rating of “Buy” and an average target price of $113.71.

About PepsiCo

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

5 Day Chart for NYSE:PEP

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