Trust Point Inc. Has $3.32 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Trust Point Inc. raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 19,497 shares of the company’s stock after purchasing an additional 806 shares during the quarter. Trust Point Inc.’s holdings in PepsiCo were worth $3,315,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Perpetual Ltd lifted its holdings in shares of PepsiCo by 24.1% in the 1st quarter. Perpetual Ltd now owns 12,739 shares of the company’s stock worth $2,229,000 after purchasing an additional 2,477 shares in the last quarter. M. Kraus & Co grew its stake in PepsiCo by 0.4% in the 1st quarter. M. Kraus & Co now owns 57,638 shares of the company’s stock valued at $10,087,000 after buying an additional 219 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in PepsiCo by 2.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,636 shares of the company’s stock valued at $811,000 after buying an additional 100 shares in the last quarter. Threadgill Financial LLC purchased a new position in shares of PepsiCo during the 1st quarter valued at $442,000. Finally, Atwood & Palmer Inc. boosted its position in shares of PepsiCo by 0.5% during the 1st quarter. Atwood & Palmer Inc. now owns 13,593 shares of the company’s stock valued at $2,379,000 after acquiring an additional 66 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEP. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 0.2 %

Shares of PEP traded up $0.43 during midday trading on Friday, hitting $175.10. The stock had a trading volume of 1,480,371 shares, compared to its average volume of 5,474,541. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The stock’s 50 day moving average is $173.73 and its 200 day moving average is $172.12. The firm has a market cap of $240.73 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the business earned $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

PepsiCo 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.