PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,122 shares of the company's stock after selling 13,650 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA's holdings in PepsiCo were worth $1,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its position in PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares during the last quarter. Noble Wealth Management PBC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $40,000. Sherman Asset Management Inc. purchased a new stake in shares of PepsiCo in the 4th quarter worth $185,000. Finally, PCG Asset Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $633,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.9%

Shares of NASDAQ:PEP traded up $1.18 during midday trading on Wednesday, reaching $136.44. The company's stock had a trading volume of 4,908,693 shares, compared to its average volume of 8,405,500. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The firm has a market cap of $187.07 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.13 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The business has a 50 day moving average price of $131.47 and a 200 day moving average price of $142.58.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results 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). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.17%. PepsiCo's dividend payout ratio is 83.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEP. JPMorgan Chase & Co. raised their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Morgan Stanley reduced their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Citigroup cut their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Bank of America dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One investment 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, PepsiCo presently has an average rating of "Hold" and a consensus target price of $159.75.

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.