Arrow Financial Corp Has $1.55 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Arrow Financial Corp cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 40.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,332 shares of the company's stock after selling 7,105 shares during the period. Arrow Financial Corp's holdings in PepsiCo were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PEP. Brighton Jones LLC grew 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 buying an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after buying an additional 11,538 shares during the last quarter. Proficio Capital Partners LLC grew its position in PepsiCo by 22.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company's stock worth $677,000 after purchasing an additional 824 shares during the last quarter. Quantbot Technologies LP purchased a new stake in PepsiCo during the 4th quarter worth approximately $555,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in PepsiCo during the 4th quarter worth approximately $40,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday. UBS Group decreased their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Performance

Shares of PEP stock traded down $1.54 during trading hours on Monday, reaching $141.70. 9,002,722 shares of the company's stock were exchanged, compared to its average volume of 7,246,734. The stock has a market capitalization of $194.00 billion, a P/E ratio of 18.20, a P/E/G ratio of 4.38 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The business has a fifty day moving average price of $132.23 and a 200-day moving average price of $141.04.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $1.4225 dividend. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.02%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.