First Bancorp Inc ME Acquires 170 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Bancorp Inc ME grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,479 shares of the company’s stock after purchasing an additional 170 shares during the period. First Bancorp Inc ME’s holdings in PepsiCo were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PEP shares. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $0.39 during trading on Friday, hitting $175.06. 5,097,170 shares of the company were exchanged, compared to its average volume of 5,492,675. The company has a market cap of $240.18 billion, a PE ratio of 25.82, a P/E/G ratio of 3.28 and a beta of 0.53. The stock has a 50 day moving average of $173.78 and a 200 day moving average of $172.13. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s payout ratio is currently 79.94%.

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.