PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,258 shares of the company’s stock after selling 1,822 shares during the period. PepsiCo makes up about 1.1% of First Financial Bank Trust Division’s portfolio, making the stock its 23rd largest holding. First Financial Bank Trust Division’s holdings in PepsiCo were worth $12,117,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its holdings in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after purchasing an additional 139 shares in the last quarter. Norden Group LLC lifted its stake in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares in the last quarter. Marion Wealth Management boosted its holdings in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after buying an additional 494 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in PepsiCo by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after buying an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. raised its holdings in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Finally, Barclays lifted their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $185.40.

PepsiCo Price Performance

Shares of PEP opened at $169.55 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a market cap of $232.89 billion, a P/E ratio of 24.61, a PEG ratio of 2.93 and a beta of 0.53. The firm’s 50 day moving average price is $173.95 and its 200 day moving average price is $172.15.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

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.