Norway Savings Bank Sells 267 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Norway Savings Bank cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,980 shares of the company’s stock after selling 267 shares during the period. PepsiCo makes up 1.1% of Norway Savings Bank’s holdings, making the stock its 27th biggest holding. Norway Savings Bank’s holdings in PepsiCo were worth $2,037,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PEP. Valued Wealth Advisors LLC boosted its holdings in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. POM Investment Strategies LLC lifted its holdings in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter worth about $30,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo in the first quarter worth about $35,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment 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, PepsiCo presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.2 %

NASDAQ:PEP traded up $0.33 during mid-day trading on Tuesday, hitting $176.43. 1,464,546 shares of the company’s stock were exchanged, compared to its average volume of 5,484,668. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The business has a fifty day moving average price of $173.56 and a 200 day moving average price of $172.08. The company has a market cap of $242.55 billion, a PE ratio of 25.63, a P/E/G ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.07%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

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.