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

American Trust lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,191 shares of the company's stock after selling 4,002 shares during the period. American Trust's holdings in PepsiCo were worth $4,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Peapack Gladstone Financial Corp lifted its stake in PepsiCo by 1.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 422,080 shares of the company's stock valued at $71,774,000 after buying an additional 4,768 shares in the last quarter. Synovus Financial Corp lifted its stake in PepsiCo by 5.5% in the 3rd quarter. Synovus Financial Corp now owns 125,965 shares of the company's stock valued at $21,421,000 after buying an additional 6,560 shares in the last quarter. Destination Wealth Management lifted its stake in PepsiCo by 1.9% in the 3rd quarter. Destination Wealth Management now owns 38,551 shares of the company's stock valued at $6,556,000 after buying an additional 711 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in PepsiCo by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 216,111 shares of the company's stock valued at $36,750,000 after buying an additional 20,029 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 0.6 %

NASDAQ PEP traded down $0.93 during trading hours on Friday, hitting $157.97. The company had a trading volume of 4,353,242 shares, compared to its average volume of 5,509,245. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The company has a market capitalization of $216.73 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 2.92 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm's 50 day moving average is $165.94 and its 200 day moving average is $169.13.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) 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 firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the firm earned $2.25 EPS. The firm's quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 dividend yield of 3.43%. PepsiCo's dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a "hold" rating to a "buy" rating and increased their price target for the stock from $179.00 to $184.00 in a research note on Thursday. TD Cowen lowered 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 note on Thursday, October 10th. Finally, Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $184.31.

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.