Washington Trust Bank Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Washington Trust Bank reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,067 shares of the company's stock after selling 2,535 shares during the period. Washington Trust Bank's holdings in PepsiCo were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $28,000. Elite Financial Inc. purchased a new stake in PepsiCo in the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo during the 4th quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at about $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.7%

NASDAQ PEP traded down $0.93 during trading on Monday, reaching $134.45. 7,771,754 shares of the company's stock were exchanged, compared to its average volume of 7,062,788. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The stock has a market cap of $184.34 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The company has a 50 day moving average price of $131.40 and a two-hundred day moving average price of $142.11.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is an increase 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 4.23%. PepsiCo's dividend payout ratio is 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Barclays decreased their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. UBS Group cut their target price on 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 lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and a consensus price target 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.