Adirondack Trust Co. Sells 100 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Adirondack Trust Co. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,773 shares of the company’s stock after selling 100 shares during the quarter. PepsiCo makes up 1.6% of Adirondack Trust Co.’s investment portfolio, making the stock its 15th largest position. Adirondack Trust Co.’s holdings in PepsiCo were worth $3,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PEP. Collective Family Office LLC increased its position in shares of PepsiCo by 11.8% during the first quarter. Collective Family Office LLC now owns 1,445 shares of the company’s stock valued at $253,000 after buying an additional 152 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of PepsiCo by 1.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 216,710 shares of the company’s stock valued at $37,926,000 after buying an additional 3,826 shares during the period. Rise Advisors LLC grew its holdings in PepsiCo by 107.6% in the first quarter. Rise Advisors LLC now owns 1,447 shares of the company’s stock worth $253,000 after purchasing an additional 750 shares during the period. CJM Wealth Advisers Ltd. grew its holdings in PepsiCo by 8.8% in the first quarter. CJM Wealth Advisers Ltd. now owns 1,551 shares of the company’s stock worth $271,000 after purchasing an additional 126 shares during the period. Finally, Emprise Bank purchased a new stake in PepsiCo in the first quarter worth about $1,816,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $166.68 on Friday. The firm has a fifty day moving average price of $173.73 and a 200-day moving average price of $170.33. 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 stock has a market cap of $229.15 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.72 and a beta of 0.52. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38.

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

PepsiCo Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.25%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEP. Wedbush reiterated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Barclays lowered their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.17.

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.