Penobscot Investment Management Company Inc. Trims Holdings in PepsiCo, Inc. $PEP

Penobscot Investment Management Company Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,487 shares of the company’s stock after selling 2,221 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in PepsiCo were worth $6,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Claris Advisors LLC MO lifted its stake in shares of PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. increased its stake in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock worth $94,598,000 after buying an additional 21,859 shares during the period. Ignite Planners LLC boosted its stake in PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after buying an additional 151 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after buying an additional 620 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays reiterated a “cautious” rating on shares of PepsiCo in a report on Friday. UBS Group dropped their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada reduced their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PepsiCo in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $157.87.

PepsiCo Stock Down 0.2%

Shares of PepsiCo stock opened at $141.98 on Friday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. The stock has a market cap of $194.38 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The company has a fifty day moving average price of $144.36 and a 200 day moving average price of $139.45.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo’s dividend payout ratio (DPR) is currently 103.64%.

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.