Whittier Trust Co. Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Whittier Trust Co. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,354 shares of the company's stock after selling 8,008 shares during the period. Whittier Trust Co.'s holdings in PepsiCo were worth $18,945,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the 4th quarter valued at about $28,000. Elite Financial Inc. acquired a new position in PepsiCo during the 1st quarter valued at about $28,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo during the 4th quarter valued at about $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter valued at about $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo during the 4th quarter valued at about $33,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Bank of America cut their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Morgan Stanley cut their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $158.00.

PepsiCo Stock Performance

Shares of PEP traded up $1.54 during mid-day trading on Wednesday, reaching $135.35. The company had a trading volume of 10,923,842 shares, compared to its average volume of 7,127,899. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. 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 stock has a market capitalization of $185.58 billion, a P/E ratio of 19.90, a PEG ratio of 4.18 and a beta of 0.45. The stock has a 50 day moving average of $131.69 and a two-hundred day moving average of $141.29.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 EPS 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 previous year, the company earned $1.61 EPS. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.20%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 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.