PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department lifted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,348 shares of the company's stock after purchasing an additional 2,405 shares during the quarter. Mechanics Bank Trust Department's holdings in PepsiCo were worth $4,700,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Tcfg Wealth Management LLC increased its stake in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock worth $295,000 after acquiring an additional 66 shares during the last quarter. Osprey Private Wealth LLC increased its stake in PepsiCo by 0.5% during the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock worth $2,290,000 after acquiring an additional 70 shares during the last quarter. TAGStone Capital Inc. increased its stake in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after acquiring an additional 70 shares during the last quarter. Lokken Investment Group LLC increased its stake in PepsiCo by 0.9% during the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after acquiring an additional 70 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its position in shares of PepsiCo by 0.3% during the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company's stock valued at $4,271,000 after buying an additional 71 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PEP shares. Bank of America dropped their target price on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. HSBC dropped their target price on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Barclays dropped their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen lowered PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Down 0.4%

PepsiCo stock traded down $0.54 during mid-day trading on Monday, reaching $130.91. 6,722,029 shares of the company were exchanged, compared to its average volume of 6,552,418. The business has a fifty day moving average of $137.98 and a 200 day moving average of $147.02. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market cap of $179.49 billion, a P/E ratio of 18.84, a PEG ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its 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). The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend 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 4.35%. PepsiCo's dividend payout ratio is presently 83.68%.

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.