Sanibel Captiva Trust Company Inc. Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Sanibel Captiva Trust Company Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 193,174 shares of the company’s stock after selling 6,307 shares during the quarter. PepsiCo accounts for about 1.1% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 25th biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in PepsiCo were worth $32,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. 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 report on Wednesday. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $184.79.

PepsiCo Stock Up 1.2 %

Shares of NASDAQ:PEP opened at $172.54 on Thursday. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. 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 firm has a market cap of $237.21 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a fifty day simple moving average of $173.63 and a 200 day simple moving average of $172.06.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

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.