Hemenway Trust Co LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Hemenway Trust Co LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,839 shares of the company’s stock after selling 840 shares during the quarter. Hemenway Trust Co LLC’s holdings in PepsiCo were worth $2,013,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PEP. Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% in the second 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 period. Massachusetts Financial Services Co. MA grew its holdings in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its position in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Bank of Montreal Can increased its holdings in PepsiCo by 14.6% during the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after acquiring an additional 492,888 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP stock traded down $0.76 during trading on Tuesday, reaching $163.50. The stock had a trading volume of 369,155 shares, compared to its average volume of 5,432,152. The stock’s 50 day moving average is $172.02 and its two-hundred day moving average is $171.85. The firm has a market cap of $224.32 billion, a PE ratio of 24.23, a PEG ratio of 3.08 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Royal Bank of Canada dropped 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. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.