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

Adirondack Trust Co. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,310 shares of the company’s stock after selling 304 shares during the quarter. PepsiCo comprises about 1.4% of Adirondack Trust Co.’s holdings, making the stock its 17th biggest holding. Adirondack Trust Co.’s holdings in PepsiCo were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Valued Wealth Advisors LLC boosted its stake in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the period. POM Investment Strategies LLC grew its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter valued at about $30,000. Finally, Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PEP shares. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley downgraded 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 note on Friday, September 20th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.79.

PepsiCo Stock Performance

PepsiCo stock opened at $172.54 on Thursday. The stock has a market cap of $237.21 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The stock has a 50 day moving average of $173.63 and a 200-day moving average of $172.06. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 52 week low of $157.43 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.