Bath Savings Trust Co increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,721 shares of the company’s stock after acquiring an additional 2,155 shares during the period. PepsiCo makes up 1.5% of Bath Savings Trust Co’s investment portfolio, making the stock its 22nd largest holding. Bath Savings Trust Co’s holdings in PepsiCo were worth $12,528,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of PepsiCo by 1.3% during the third quarter. Vanguard Group Inc. now owns 128,842,451 shares of the company’s stock valued at $21,034,819,000 after purchasing an additional 1,611,639 shares during the last quarter. State Street Corp raised its holdings in shares of PepsiCo by 0.7% during the third quarter. State Street Corp now owns 59,634,823 shares of the company’s stock valued at $9,735,981,000 after purchasing an additional 423,426 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares during the last quarter. Morgan Stanley raised its holdings in shares of PepsiCo by 21.0% during the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after purchasing an additional 4,629,947 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PepsiCo by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 25,637,180 shares of the company’s stock valued at $4,622,579,000 after purchasing an additional 267,641 shares during the last quarter. 75.46% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PEP has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on shares of PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating for the company. Royal Bank of Canada boosted their target price on shares of PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. Sanford C. Bernstein upgraded shares of PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $190.25.
PepsiCo Price Performance
PepsiCo (NASDAQ:PEP – Get Rating) last issued its earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The firm had revenue of $17.85 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. PepsiCo’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 7.3 earnings per share for the current fiscal year.
PepsiCo Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be paid a dividend of $1.265 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $5.06 dividend on an annualized basis and a yield of 2.70%. PepsiCo’s dividend payout ratio is presently 106.53%.
About PepsiCo
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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