PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 18.5% during the fourth quarter, Holdings Channel reports. The firm owned 7,776 shares of the company’s stock after selling 1,769 shares during the quarter. PepsiCo comprises 0.9% of Canandaigua National Trust Co of Florida’s portfolio, making the stock its 21st largest holding. Canandaigua National Trust Co of Florida’s holdings in PepsiCo were worth $1,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of PepsiCo by 57.7% during the second quarter. SRS Capital Advisors Inc. now owns 4,520 shares of the company’s stock worth $746,000 after purchasing an additional 1,654 shares in the last quarter. Norden Group LLC boosted its position in PepsiCo by 2.3% in the 2nd quarter. Norden Group LLC now owns 7,920 shares of the company’s stock valued at $1,306,000 after buying an additional 180 shares during the period. Umpqua Bank grew its stake in shares of PepsiCo by 4.2% in the second quarter. Umpqua Bank now owns 12,337 shares of the company’s stock worth $2,035,000 after acquiring an additional 499 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of PepsiCo by 8,835.5% during the second quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock worth $192,000 after acquiring an additional 115,303 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of PepsiCo by 5.1% in the second quarter. Acadian Asset Management LLC now owns 799,532 shares of the company’s stock valued at $131,845,000 after acquiring an additional 38,607 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $184.31.

PepsiCo Stock Performance

NASDAQ PEP traded down $3.38 during trading on Monday, reaching $146.27. The company’s stock had a trading volume of 9,450,510 shares, compared to its average volume of 5,480,249. PepsiCo, Inc. has a twelve month low of $146.10 and a twelve month high of $183.41. The firm has a market cap of $200.68 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 2.94 and a beta of 0.54. The business’s fifty day moving average price is $159.51 and its 200-day moving average price is $167.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.71%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.