Charter Trust Co. Has $7.67 Million Holdings in PepsiCo, Inc. (PEP)
Charter Trust Co. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,959 shares of the company’s stock after selling 1,358 shares during the quarter. Charter Trust Co.’s holdings in PepsiCo were worth $7,669,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $201,000. Oakmont Partners LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $220,000. KCS Wealth Advisory purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $239,000. White Lighthouse Investment Management Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $240,000. Finally, Pure Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $295,000. Institutional investors and hedge funds own 69.98% of the company’s stock.
A number of analysts have recently commented on the company. BidaskClub cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus reiterated a “hold” rating and set a $120.00 price target on shares of PepsiCo in a research report on Friday, December 22nd. Jefferies Group reiterated a “hold” rating and set a $113.00 price target on shares of PepsiCo in a research report on Tuesday, February 13th. SunTrust Banks dropped their price target on PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Hold” and an average price target of $123.04.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The company had revenue of $19.53 billion for the quarter, compared to analyst estimates of $19.40 billion. PepsiCo had a return on equity of 61.14% and a net margin of 7.65%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. analysts predict that PepsiCo, Inc. will post 5.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, March 1st. PepsiCo’s dividend payout ratio (DPR) is currently 63.26%.
PepsiCo declared that its board has authorized a share buyback program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2018/03/11/charter-trust-co-has-7-67-million-holdings-in-pepsico-inc-pep.html.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.