Orrstown Financial Services Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,367 shares of the company’s stock after selling 1,003 shares during the quarter. PepsiCo makes up approximately 1.7% of Orrstown Financial Services Inc.’s holdings, making the stock its 19th biggest holding. Orrstown Financial Services Inc.’s holdings in PepsiCo were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $35,000. Leverty Financial Group LLC bought a new stake in PepsiCo during the fourth quarter worth approximately $38,000. Masso Torrence Wealth Management Inc. bought a new stake in PepsiCo during the fourth quarter worth approximately $56,000. Creative Financial Designs Inc. ADV boosted its stake in PepsiCo by 229.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 323 shares of the company’s stock worth $56,000 after purchasing an additional 225 shares during the period. Finally, Evolution Advisers Inc. acquired a new position in PepsiCo in the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.
PepsiCo stock opened at $162.03 on Thursday. PepsiCo, Inc. has a 1-year low of $144.61 and a 1-year high of $177.62. The firm’s fifty day simple moving average is $166.98 and its 200-day simple moving average is $168.10. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $224.04 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.12 and a beta of 0.59.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 3rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 dividend on an annualized basis and a yield of 2.84%. PepsiCo’s dividend payout ratio (DPR) is presently 62.93%.
In other PepsiCo news, CEO Eugene Willemsen sold 4,560 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $175.61, for a total value of $800,781.60. Following the sale, the chief executive officer now directly owns 8,277 shares in the company, valued at approximately $1,453,523.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Flavell sold 5,150 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of the sale, the executive vice president now owns 28,275 shares in the company, valued at $4,951,235.25. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.
A number of research firms recently commented on PEP. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PepsiCo from $173.00 to $175.00 in a research note on Wednesday, April 27th. Credit Suisse Group increased their target price on shares of PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. Guggenheim increased their target price on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 27th. JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $183.00 to $186.00 in a research report on Wednesday, April 27th. Finally, Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.
About PepsiCo (Get Rating)
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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