PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,708 shares of the company’s stock after selling 2,324 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in PepsiCo were worth $7,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ossiam boosted its position in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after acquiring an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock valued at $18,977,000 after buying an additional 13,461 shares during the last quarter. Hutner Capital Management Inc. lifted its position in PepsiCo by 14.6% in the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after buying an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in PepsiCo in the fourth quarter valued at about $47,899,000. Finally, Inspire Trust Co. N.A. lifted its position in PepsiCo by 39.2% in the fourth quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company’s stock valued at $2,604,000 after buying an additional 4,825 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 2.3%

Shares of NASDAQ:PEP opened at $128.02 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a fifty-two week low of $127.63 and a fifty-two week high of $180.91. The firm’s 50 day moving average price is $132.36 and its 200 day moving average price is $143.44. The stock has a market cap of $175.53 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.44%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s payout ratio is 83.68%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Bank of America decreased their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Citigroup reduced their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $148.00 price target on shares of PepsiCo in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.75.

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.