Hemenway Trust Co LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. TAGStone Capital Inc. lifted its stake in shares of PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Lokken Investment Group LLC raised its holdings in shares of PepsiCo by 0.9% during the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after buying an additional 70 shares during the period. Legacy Financial Group LLC lifted its position in PepsiCo by 4.9% during the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after acquiring an additional 71 shares in the last quarter. Atlantic Private Wealth LLC boosted its holdings in PepsiCo by 37.5% in the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the period. Finally, Pflug Koory LLC grew its position in PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock valued at $1,162,000 after acquiring an additional 76 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP opened at $129.29 on Wednesday. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The firm has a market cap of $177.27 billion, a P/E ratio of 19.01, a PEG ratio of 3.77 and a beta of 0.45. The business’s 50-day moving average price is $134.13 and its 200 day moving average price is $144.63.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

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

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Morgan Stanley reduced their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Barclays dropped their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $160.69.

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.