Trust Co of the South Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Trust Co of the South lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,508 shares of the company’s stock after selling 119 shares during the quarter. Trust Co of the South’s holdings in PepsiCo were worth $838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opes Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates boosted its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Oxbow Advisors LLC raised its position in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the period. Cross Staff Investments Inc boosted its position in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after acquiring an additional 60 shares during the period. Finally, Paulson Wealth Management Inc. increased its holdings in shares of PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $1.89 during trading on Thursday, reaching $150.17. The stock had a trading volume of 2,184,219 shares, compared to its average volume of 5,585,426. The stock has a market capitalization of $206.03 billion, a PE ratio of 22.15, a P/E/G ratio of 2.94 and a beta of 0.52. PepsiCo, Inc. has a 52 week low of $149.71 and a 52 week high of $183.41. The business’s 50-day moving average price is $160.39 and its 200 day moving average price is $167.49. 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 announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $184.31.

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.