Washington Trust Bank Has $1.55 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Washington Trust Bank lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,102 shares of the company’s stock after selling 171 shares during the period. Washington Trust Bank’s holdings in PepsiCo were worth $1,548,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the period. Swedbank AB raised its stake in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. lifted its position in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the period. Legal & General Group Plc increased its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $151,749,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price target 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. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.29 during midday trading on Thursday, reaching $164.42. The company had a trading volume of 461,790 shares, compared to its average volume of 5,443,813. The stock has a fifty day simple moving average of $172.50 and a 200 day simple moving average of $172.11. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $225.58 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.25 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.