Park National Corp OH Sells 26,028 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Park National Corp OH trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 27.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,396 shares of the company’s stock after selling 26,028 shares during the quarter. Park National Corp OH’s holdings in PepsiCo were worth $11,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC increased its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. JPMorgan Chase & Co. raised their target price on PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, Jefferies Financial Group lowered their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $185.40.

PepsiCo Trading Down 1.1 %

Shares of NASDAQ 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 twelve month low of $155.83 and a twelve month high of $183.41. The company’s fifty day moving average is $173.95 and its 200-day moving average is $172.15. The stock has a market cap of $232.89 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the business earned $2.09 EPS. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

About PepsiCo

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.