First United Bank & Trust lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,847 shares of the company’s stock after selling 77 shares during the quarter. First United Bank & Trust’s holdings in PepsiCo were worth $2,383,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Paragon Wealth Strategies LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Cowen Prime Advisors LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Financial Insights Inc. bought a new stake in shares of PepsiCo in the second quarter valued at about $36,000. AGF Investments LLC bought a new position in PepsiCo during the second quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in PepsiCo during the second quarter worth about $44,000. 70.48% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on PEP shares. Guggenheim lifted their target price on shares of PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $158.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 6th. UBS Group lifted their price objective on PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research note on Monday, August 9th. Finally, Evercore ISI reissued a “hold” rating and issued a $160.00 target price on shares of PepsiCo in a research note on Thursday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $162.86.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, October 4th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. PepsiCo had a return on equity of 58.31% and a net margin of 10.62%. The business had revenue of $20.19 billion during the quarter, compared to the consensus estimate of $19.39 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 6.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Investors of record on Friday, December 3rd will be issued a $1.075 dividend. The ex-dividend date is Thursday, December 2nd. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.63%. PepsiCo’s dividend payout ratio (DPR) is presently 73.25%.
In other news, CFO Hugh F. Johnston sold 37,266 shares of the business’s stock in a transaction on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total transaction of $5,973,739.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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