Orrstown Financial Services Inc. Sells 833 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Orrstown Financial Services Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,151 shares of the company’s stock after selling 833 shares during the period. Orrstown Financial Services Inc.’s holdings in PepsiCo were worth $1,372,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ossiam lifted its position in shares of PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after acquiring an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock valued at $18,977,000 after acquiring an additional 13,461 shares in the last quarter. Hutner Capital Management Inc. lifted its position in shares of PepsiCo by 14.6% in the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after acquiring an additional 6,865 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of PepsiCo in the fourth quarter valued at about $47,899,000. Finally, WCM Investment Management LLC lifted its position in shares of PepsiCo by 147.6% in the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock valued at $2,229,000 after acquiring an additional 8,759 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of research analyst reports. Barclays decreased their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. UBS Group decreased their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Bank of America decreased their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, Morgan Stanley decreased their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $160.69.

PepsiCo Trading Down 0.8%

PEP opened at $130.03 on Friday. The stock has a market cap of $178.28 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.45. The stock’s 50 day moving average price is $136.15 and its 200-day moving average price is $146.16. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.61 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.38%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is 83.68%.

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.