Community Bank N.A. Cuts Stake in PepsiCo Inc. (PEP)
Community Bank N.A. cut its position in shares of PepsiCo Inc. (NYSE:PEP) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 58,547 shares of the company’s stock after selling 25 shares during the period. PepsiCo accounts for about 1.5% of Community Bank N.A.’s investment portfolio, making the stock its 17th largest position. Community Bank N.A.’s holdings in PepsiCo were worth $6,202,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pioneer Investment Management Inc. boosted its stake in shares of PepsiCo by 8.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 1,983,425 shares of the company’s stock worth $198,184,000 after buying an additional 157,376 shares in the last quarter. Reliance Trust Co. of Delaware boosted its stake in shares of PepsiCo by 8.0% in the fourth quarter. Reliance Trust Co. of Delaware now owns 112,471 shares of the company’s stock worth $11,238,000 after buying an additional 8,321 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new stake in shares of PepsiCo during the fourth quarter worth about $1,917,000. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter worth about $1,249,299,000. Finally, Investment Counsel Inc. purchased a new stake in shares of PepsiCo during the fourth quarter worth about $2,684,000. Institutional investors and hedge funds own 70.08% of the company’s stock.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.19% during mid-day trading on Friday, reaching $105.28. The company’s stock had a trading volume of 4,934,066 shares. The company has a 50-day moving average price of $107.79 and a 200 day moving average price of $104.53. PepsiCo Inc. has a 52-week low of $91.45 and a 52-week high of $110.94. The company has a market cap of $151.51 billion, a PE ratio of 29.75 and a beta of 0.48.
PepsiCo (NYSE:PEP) last posted its quarterly earnings data on Thursday, July 7th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. The firm had revenue of $15.40 billion for the quarter. During the same period last year, the business earned $1.32 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts expect that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is currently 84.79%.
PEP has been the topic of a number of research reports. Vetr cut PepsiCo from a “buy” rating to a “hold” rating and set a $104.63 price objective on the stock. in a research note on Wednesday, June 1st. Susquehanna restated a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Tuesday, June 21st. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $104.00 price objective (down from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Finally, Jefferies Group restated a “buy” rating and issued a $119.00 price objective on shares of PepsiCo in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. PepsiCo currently has a consensus rating of “Buy” and a consensus price target of $110.96.
In other news, SVP Marie T. Gallagher sold 13,586 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $109.01, for a total value of $1,481,009.86. Following the transaction, the senior vice president now owns 58,183 shares of the company’s stock, valued at $6,342,528.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Albert P. Carey sold 170,003 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the completion of the transaction, the chief executive officer now directly owns 306,138 shares in the company, valued at approximately $33,310,875.78. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo Inc. (NYSE:PEP).
Receive News & Ratings for PepsiCo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.