Norway Savings Bank Sells 120 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Norway Savings Bank cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,546 shares of the company’s stock after selling 120 shares during the quarter. Norway Savings Bank’s holdings in PepsiCo were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in PEP. Westfield Capital Management Co. LP boosted its holdings in shares of PepsiCo by 6.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 54,876 shares of the company’s stock worth $9,298,000 after purchasing an additional 3,430 shares in the last quarter. Private Advisory Group LLC raised its position in PepsiCo by 17.5% in the 3rd quarter. Private Advisory Group LLC now owns 2,642 shares of the company’s stock worth $448,000 after purchasing an additional 393 shares during the period. Bank of Nova Scotia boosted its position in PepsiCo by 3.6% during the third quarter. Bank of Nova Scotia now owns 299,212 shares of the company’s stock valued at $50,698,000 after buying an additional 10,356 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of PepsiCo by 642.4% in the third quarter. Itau Unibanco Holding S.A. now owns 2,331 shares of the company’s stock worth $395,000 after buying an additional 2,017 shares during the period. Finally, Morningstar Investment Services LLC boosted its holdings in PepsiCo by 23.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 3,781 shares of the company’s stock valued at $641,000 after acquiring an additional 725 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PEP shares. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Barclays lowered their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Jefferies Financial Group boosted their target price on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $186.38.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was 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 owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $164.93 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company has a 50 day simple moving average of $173.37 and a two-hundred day simple moving average of $170.30. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The company has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. 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.