PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the third quarter, Holdings Channel.com reports. The fund owned 290,205 shares of the company’s stock after selling 2,102 shares during the period. PepsiCo accounts for 0.7% of Fiduciary Trust Co’s investment portfolio, making the stock its 29th largest holding. Fiduciary Trust Co’s holdings in PepsiCo were worth $49,349,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. grew its holdings in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC increased its stake in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Bank of Stockton increased its stake in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC grew its stake in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.3 %

PEP opened at $162.72 on Thursday. The business has a 50 day moving average of $168.18 and a 200-day moving average of $170.60. The stock has a market capitalization of $223.25 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released 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. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Ratings Changes

A number of research firms recently commented on PEP. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $183.92.

About PepsiCo

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.