PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,182,177 shares of the company’s stock after selling 75,850 shares during the period. PepsiCo comprises approximately 0.6% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 26th largest holding. Chevy Chase Trust Holdings LLC owned about 0.09% of PepsiCo worth $201,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Coastwise Capital Group LLC acquired a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $250,000. Community Bank N.A. raised its position in shares of PepsiCo by 1.3% during the 3rd quarter. Community Bank N.A. now owns 62,201 shares of the company’s stock valued at $10,577,000 after acquiring an additional 785 shares in the last quarter. Ascent Group LLC raised its position in shares of PepsiCo by 36.9% during the 3rd quarter. Ascent Group LLC now owns 42,837 shares of the company’s stock valued at $7,284,000 after acquiring an additional 11,553 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of PepsiCo by 739.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 119,863 shares of the company’s stock valued at $20,394,000 after acquiring an additional 105,592 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $527,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada dropped their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Up 0.4 %

Shares of PEP stock opened at $163.45 on Monday. The stock has a 50-day simple moving average of $167.79 and a 200 day simple moving average of $170.30. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The stock has a market capitalization of $224.25 billion, a P/E ratio of 24.11, a P/E/G ratio of 3.05 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the business posted $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo Profile

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.