Canandaigua National Bank & Trust Co. Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Canandaigua National Bank & Trust Co. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,645 shares of the company’s stock after selling 1,348 shares during the quarter. PepsiCo accounts for about 1.0% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 19th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in PepsiCo were worth $10,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its holdings in shares of PepsiCo by 57.7% in the 2nd quarter. SRS Capital Advisors Inc. now owns 4,520 shares of the company’s stock worth $746,000 after acquiring an additional 1,654 shares during the last quarter. Norden Group LLC boosted its position in PepsiCo by 2.3% during the second quarter. Norden Group LLC now owns 7,920 shares of the company’s stock valued at $1,306,000 after buying an additional 180 shares during the period. Umpqua Bank increased its holdings in shares of PepsiCo by 4.2% in the second quarter. Umpqua Bank now owns 12,337 shares of the company’s stock worth $2,035,000 after buying an additional 499 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of PepsiCo by 8,835.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock valued at $192,000 after acquiring an additional 115,303 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in PepsiCo by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 799,532 shares of the company’s stock valued at $131,845,000 after acquiring an additional 38,607 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $184.31.

PepsiCo Stock Down 2.3 %

PepsiCo stock traded down $3.38 during mid-day trading on Monday, reaching $146.27. The stock had a trading volume of 9,448,868 shares, compared to its average volume of 5,480,249. The company has a 50-day moving average price of $159.51 and a two-hundred day moving average price of $167.26. PepsiCo, Inc. has a one year low of $146.10 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 0.70. The company has a market capitalization of $200.68 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.