PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,890 shares of the company’s stock after selling 90 shares during the period. Norway Savings Bank’s holdings in PepsiCo were worth $1,808,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Cross Staff Investments Inc grew its position in shares of PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the period. Paulson Wealth Management Inc. lifted its position in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc grew its stake in shares of PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after buying an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC grew its stake in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PEP. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. 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. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $182.29.

PepsiCo Price Performance

NASDAQ PEP traded down $0.34 on Tuesday, hitting $145.93. The company had a trading volume of 3,820,903 shares, compared to its average volume of 5,845,413. The company’s fifty day moving average price is $159.04 and its 200-day moving average price is $167.12. PepsiCo, Inc. has a 12-month low of $145.77 and a 12-month high of $183.41. The company has a market capitalization of $200.21 billion, a PE ratio of 21.52, a PEG ratio of 2.94 and a beta of 0.54. 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 (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.71%. PepsiCo’s payout ratio is 79.94%.

About PepsiCo

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.