Greenfield Savings Bank Sells 134 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Greenfield Savings Bank lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,625 shares of the company’s stock after selling 134 shares during the quarter. Greenfield Savings Bank’s holdings in PepsiCo were worth $1,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PEP. CI Investments Inc. raised its holdings in shares of PepsiCo by 2.1% in the 3rd quarter. CI Investments Inc. now owns 35,366 shares of the company’s stock worth $5,992,000 after purchasing an additional 742 shares during the period. CenterBook Partners LP raised its holdings in shares of PepsiCo by 115.3% in the 3rd quarter. CenterBook Partners LP now owns 8,337 shares of the company’s stock worth $1,413,000 after purchasing an additional 4,464 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of PepsiCo by 52.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 13,925 shares of the company’s stock worth $2,359,000 after purchasing an additional 4,809 shares during the period. LPL Financial LLC raised its holdings in shares of PepsiCo by 6.5% in the 3rd quarter. LPL Financial LLC now owns 1,429,309 shares of the company’s stock worth $242,182,000 after purchasing an additional 87,220 shares during the period. Finally, Guardian Capital LP raised its holdings in shares of PepsiCo by 6.1% in the 3rd quarter. Guardian Capital LP now owns 19,686 shares of the company’s stock worth $3,336,000 after purchasing an additional 1,129 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

PEP opened at $167.28 on Friday. The company has a fifty day moving average price of $173.71 and a 200-day moving average price of $170.32. The firm has a market capitalization of $229.97 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) 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 company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.24%. PepsiCo’s payout ratio is 81.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEP shares. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Finally, Wedbush reissued an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.17.

Insider Buying and Selling

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 transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

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.