Montecito Bank & Trust reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,308 shares of the company’s stock after selling 200 shares during the quarter. Montecito Bank & Trust’s holdings in PepsiCo were worth $2,244,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of PepsiCo by 5.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 101,504 shares of the company’s stock valued at $18,504,000 after purchasing an additional 4,935 shares during the last quarter. Joel Isaacson & Co. LLC lifted its stake in PepsiCo by 3.0% in the first quarter. Joel Isaacson & Co. LLC now owns 13,805 shares of the company’s stock valued at $2,517,000 after buying an additional 407 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of PepsiCo by 3.8% in the first quarter. Asset Management One Co. Ltd. now owns 726,047 shares of the company’s stock valued at $132,358,000 after acquiring an additional 26,534 shares during the period. First Personal Financial Services increased its holdings in shares of PepsiCo by 2.0% in the 1st quarter. First Personal Financial Services now owns 32,470 shares of the company’s stock valued at $5,919,000 after acquiring an additional 623 shares during the period. Finally, Berger Financial Group Inc grew its position in PepsiCo by 2.3% during the 1st quarter. Berger Financial Group Inc now owns 6,460 shares of the company’s stock worth $1,178,000 after purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on PEP shares. Royal Bank of Canada upped their price objective on shares of PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. UBS Group increased their target price on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Sanford C. Bernstein upgraded PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Wells Fargo & Company increased their price objective on PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. Finally, Barclays upped their price target on shares of PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $190.25.
PepsiCo Trading Down 1.9 %
PepsiCo (NASDAQ:PEP – Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $17.85 billion for the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 7.29 EPS for the current fiscal year.
PepsiCo Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s payout ratio is currently 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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