Smithfield Trust Co Sells 5,350 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Smithfield Trust Co has decreased its holdings in PepsiCo by 10% after selling 5,350 shares, leaving it with 47,968 shares valued at $7.17 million.
• Recent analyst ratings reflect mixed sentiments, with target prices adjusted downwards by firms like JPMorgan and Bank of America, while the average price target stands at $158.73 with a consensus rating of "Hold".
• PepsiCo announced a quarterly dividend of $1.4225 per share, with an upcoming payment date of September 30th, representing an annualized yield of 4.1%.

Smithfield Trust Co cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,968 shares of the company's stock after selling 5,350 shares during the quarter. Smithfield Trust Co's holdings in PepsiCo were worth $7,174,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEP. Elite Financial Inc. acquired a new position in shares of PepsiCo during the first quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at about $38,000. Bridge Generations Wealth Management LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. UBS Group dropped their target price on 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 PepsiCo in a research report on Thursday, April 24th. Bank of America dropped their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Trading Up 1.0%

PEP opened at $139.28 on Friday. The firm has a market cap of $190.69 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The business's 50 day moving average is $134.63 and its two-hundred day moving average is $140.87. 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 (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 earnings per share. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. PepsiCo's payout ratio 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.

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