PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,854 shares of the company’s stock after selling 359 shares during the period. Legacy Private Trust Co.’s holdings in PepsiCo were worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Capital Advisors Ltd. LLC grew its stake in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC grew its stake in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the period. Marion Wealth Management grew its stake in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after acquiring an additional 494 shares during the period. Public Employees Retirement System of Ohio grew its stake in PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after acquiring an additional 11,485 shares during the period. Finally, Meyer Handelman Co. grew its stake in PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after acquiring an additional 9,465 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.9 %

Shares of NASDAQ PEP opened at $170.42 on Wednesday. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. The company has a market cap of $234.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The stock has a fifty day moving average price of $173.68 and a 200 day moving average price of $172.07.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.18%. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEP shares. BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada lowered their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Jefferies Financial Group lowered their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $185.29.

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.