Hemenway Trust Co LLC Sells 648 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hemenway Trust Co LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,679 shares of the company’s stock after selling 648 shares during the period. Hemenway Trust Co LLC’s holdings in PepsiCo were worth $2,091,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Valued Wealth Advisors LLC raised its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the second quarter valued at approximately $30,000. Fortis Group Advisors LLC boosted its stake in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo during the 1st quarter valued at $35,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 0.7 %

Shares of PEP stock traded down $1.20 on Friday, hitting $178.10. 840,639 shares of the stock were exchanged, compared to its average volume of 5,441,528. The business has a 50-day moving average of $170.71 and a 200 day moving average of $171.06. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The firm has a market capitalization of $244.63 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $2.09 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.04%. PepsiCo’s dividend payout ratio is 78.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays lifted their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Bank of America reduced their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

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.