Hemenway Trust Co LLC Has $1.10 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Hemenway Trust Co LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,331 shares of the company’s stock after selling 1,528 shares during the period. Hemenway Trust Co LLC’s holdings in PepsiCo were worth $1,099,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of PepsiCo in the 4th quarter valued at $2,729,565,000. GAMMA Investing LLC raised its holdings in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after buying an additional 4,564,723 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PepsiCo in the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after acquiring an additional 1,809,391 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 1.6%

NASDAQ PEP opened at $129.29 on Wednesday. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The company has a market capitalization of $177.27 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.77 and a beta of 0.45. The stock’s 50 day moving average is $134.13 and its two-hundred day moving average is $144.63. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. PepsiCo’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.40%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s payout ratio is currently 83.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PEP shares. JPMorgan Chase & Co. boosted their target price on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. Finally, Barclays dropped their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $160.69.

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.