Fiduciary Trust Co Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Fiduciary Trust Co cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,205 shares of the company’s stock after selling 2,102 shares during the period. PepsiCo makes up about 0.7% of Fiduciary Trust Co’s holdings, making the stock its 29th largest holding. Fiduciary Trust Co’s holdings in PepsiCo were worth $49,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. increased its holdings in shares of PepsiCo by 3.1% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 3,438 shares of the company’s stock worth $602,000 after buying an additional 102 shares during the last quarter. FSA Advisors Inc. raised its position in PepsiCo by 7.6% in the first quarter. FSA Advisors Inc. now owns 1,541 shares of the company’s stock valued at $270,000 after purchasing an additional 109 shares during the period. Dodds Wealth LLC lifted its stake in shares of PepsiCo by 122.9% in the 1st quarter. Dodds Wealth LLC now owns 3,069 shares of the company’s stock valued at $537,000 after purchasing an additional 1,692 shares during the last quarter. Cetera Investment Advisers raised its holdings in PepsiCo by 256.1% in the 1st quarter. Cetera Investment Advisers now owns 461,377 shares of the company’s stock valued at $80,746,000 after buying an additional 331,827 shares during the period. Finally, Cetera Advisors LLC lifted its position in PepsiCo by 65.9% in the first quarter. Cetera Advisors LLC now owns 148,850 shares of the company’s stock valued at $26,050,000 after buying an additional 59,131 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

NASDAQ PEP opened at $162.72 on Thursday. The firm’s fifty day moving average is $168.18 and its two-hundred day moving average is $170.60. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $223.25 billion, a PE ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. During the same quarter in the prior year, the firm earned $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $183.92.

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.