Chevy Chase Trust Holdings LLC Sells 195,239 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Chevy Chase Trust Holdings LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 986,938 shares of the company’s stock after selling 195,239 shares during the period. Chevy Chase Trust Holdings LLC owned 0.07% of PepsiCo worth $150,074,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC increased its holdings in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. increased its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP increased its holdings in PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada began coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. UBS Group decreased their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Evercore ISI decreased their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Price Performance

PEP stock opened at $144.58 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a market capitalization of $198.29 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The company’s 50-day moving average is $150.41 and its 200-day moving average is $163.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.75%. PepsiCo’s payout ratio is 77.99%.

PepsiCo Company 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.