CNB Bank Sells 209 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CNB Bank lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the third quarter, HoldingsChannel reports. The fund owned 11,762 shares of the company’s stock after selling 209 shares during the period. PepsiCo accounts for approximately 0.9% of CNB Bank’s investment portfolio, making the stock its 26th largest holding. CNB Bank’s holdings in PepsiCo were worth $2,000,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Meixler Investment Management Ltd. lifted its holdings in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares during the period. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton raised its holdings in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $175.06 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a market cap of $240.18 billion, a PE ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53. The firm has a 50-day moving average of $173.78 and a 200-day moving average of $172.14.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their price objective 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. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $183.92.

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.