First Citizens Bank & Trust Co. Sells 916 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Citizens Bank & Trust Co. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,369 shares of the company’s stock after selling 916 shares during the period. First Citizens Bank & Trust Co.’s holdings in PepsiCo were worth $13,837,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Flossbach Von Storch AG boosted its stake in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. Swedbank AB lifted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. boosted its position in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the period. Van ECK Associates Corp raised its holdings in shares of PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $175.06 on Friday. The firm has a 50 day moving average of $173.78 and a 200 day moving average of $172.13. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The stock has a market capitalization of $240.18 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $23.86 billion. During the same quarter last year, the firm earned $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PEP. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price target 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. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average 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.