PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,113 shares of the company’s stock after selling 3,265 shares during the quarter. Bar Harbor Wealth Management’s holdings in PepsiCo were worth $10,222,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Flossbach Von Storch AG lifted its stake in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB boosted its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Van ECK Associates Corp increased its position in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on PEP shares. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PEP stock opened at $174.67 on Friday. The business has a 50 day simple moving average of $173.73 and a 200-day simple moving average of $172.12. The company has a market capitalization of $240.13 billion, a P/E ratio of 25.35, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm posted $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

PepsiCo Company 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.