Central Pacific Bank Trust Division Sells 9,665 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Central Pacific Bank Trust Division decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 80.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,292 shares of the company's stock after selling 9,665 shares during the quarter. Central Pacific Bank Trust Division's holdings in PepsiCo were worth $344,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PEP. Collier Financial acquired a new position in shares of PepsiCo during the fourth quarter valued at $28,000. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Measured Risk Portfolios Inc. bought a new stake in PepsiCo during the fourth quarter worth approximately $31,000. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. HSBC lowered their price target on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Finally, Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, PepsiCo currently has an average rating of "Hold" and an average price target of $160.69.

PepsiCo Stock Up 0.7%

PEP traded up $0.94 on Tuesday, reaching $131.85. 7,203,440 shares of the company traded hands, compared to its average volume of 6,555,689. The company has a market cap of $180.78 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock's 50 day moving average price is $137.62 and its 200-day moving average price is $146.83. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS 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. The ex-dividend date is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.32%. PepsiCo's dividend payout ratio (DPR) is 83.68%.

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.