Coastline Trust Co Sells 2,299 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Coastline Trust Co lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,232 shares of the company's stock after selling 2,299 shares during the quarter. Coastline Trust Co's holdings in PepsiCo were worth $3,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after acquiring an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Norges Bank purchased a new position in PepsiCo during the 4th quarter worth approximately $2,729,565,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company's stock valued at $2,130,841,000 after purchasing an additional 689,383 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEP has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $163.00 price objective on shares of PepsiCo in a research report on Tuesday. Finally, TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $167.24.

PepsiCo Trading Down 1.6 %

NASDAQ PEP traded down $2.25 on Wednesday, reaching $141.21. The company had a trading volume of 3,814,412 shares, compared to its average volume of 6,104,227. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $138.33 and a 52 week high of $183.41. The stock has a market cap of $193.64 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 3.09 and a beta of 0.49. The stock's 50 day moving average is $148.10 and its 200-day moving average is $154.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 earnings per share. PepsiCo's revenue was down .2% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.84%. PepsiCo's payout ratio is 77.99%.

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.