Arden Trust Co Sells 79 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Arden Trust Co lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,009 shares of the company’s stock after selling 79 shares during the period. Arden Trust Co’s holdings in PepsiCo were worth $331,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Valued Wealth Advisors LLC increased its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $35,000. Naples Money Management LLC bought a new stake in PepsiCo in the 4th quarter valued at $36,000. Finally, Criterion Capital Advisors LLC bought a new position in PepsiCo during the 4th quarter worth about $39,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEP. Barclays upped their price objective on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Morgan Stanley decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. TD Cowen cut their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Bank of America cut their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $185.53.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.70 during mid-day trading on Wednesday, hitting $171.79. The stock had a trading volume of 5,428,919 shares, compared to its average volume of 5,556,862. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $187.48. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The stock has a market cap of $236.17 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.02 and a beta of 0.52. The company’s 50 day simple moving average is $168.05 and its 200 day simple moving average is $170.26.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio 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.