PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,395 shares of the company’s stock after purchasing an additional 1,260 shares during the period. PepsiCo accounts for approximately 1.8% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 9th biggest position. Canandaigua National Bank & Trust Co.’s holdings in PepsiCo were worth $12,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PEP. Confluence Investment Management LLC bought a new position in PepsiCo during the first quarter valued at about $166,243,000. General Partner Inc. raised its holdings in PepsiCo by 39.4% during the first quarter. General Partner Inc. now owns 5,543 shares of the company’s stock valued at $970,000 after buying an additional 1,568 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in PepsiCo during the fourth quarter valued at about $8,158,000. Fairman Group LLC bought a new position in PepsiCo during the fourth quarter valued at about $55,000. Finally, Addis & Hill Inc bought a new position in PepsiCo during the fourth quarter valued at about $200,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PEP shares. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group boosted their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Barclays lowered their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and an average target price of $187.17.

PepsiCo Stock Performance

PEP stock opened at $166.48 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The company has a 50 day moving average price of $173.81 and a 200 day moving average price of $170.39. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The stock has a market capitalization of $228.88 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the company posted $1.50 EPS. PepsiCo’s revenue was up 2.3% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. PepsiCo’s payout ratio is presently 81.50%.

PepsiCo Company 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.