Ledyard National Bank Has $3.66 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Ledyard National Bank cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,524 shares of the company’s stock after selling 696 shares during the period. Ledyard National Bank’s holdings in PepsiCo were worth $3,656,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock worth $3,121,736,000 after purchasing an additional 920,032 shares during the period. Northern Trust Corp boosted its position in PepsiCo by 3.7% during the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock valued at $2,859,812,000 after purchasing an additional 595,357 shares during the last quarter. California Public Employees Retirement System grew its stake in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PepsiCo by 9.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock worth $1,239,629,000 after purchasing an additional 608,321 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of PepsiCo by 2.1% during the 3rd quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock valued at $1,147,922,000 after buying an additional 142,243 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ PEP traded up $0.56 during midday trading on Monday, hitting $176.14. The company had a trading volume of 3,224,217 shares, compared to its average volume of 5,823,218. The firm has a fifty day simple moving average of $169.60 and a two-hundred day simple moving average of $168.05. The stock has a market cap of $242.15 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 2.86 and a beta of 0.53. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same period in the previous year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.87%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and a consensus price target of $187.42.

PepsiCo 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.