Smithfield Trust Co Has $8.12 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Smithfield Trust Co trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,318 shares of the company’s stock after selling 569 shares during the quarter. Smithfield Trust Co’s holdings in PepsiCo were worth $8,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. TD Cowen lowered their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, HSBC lowered their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

Shares of PEP opened at $154.19 on Wednesday. The business’s fifty day moving average is $148.71 and its 200 day moving average is $161.20. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market cap of $211.47 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.