Mechanics Bank Trust Department Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Mechanics Bank Trust Department lowered its holdings in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 1.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,967 shares of the company’s stock after selling 385 shares during the quarter. Mechanics Bank Trust Department’s holdings in PepsiCo were worth $4,827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter valued at $2,180,925,000. BlackRock Inc. raised its holdings in shares of PepsiCo by 5.5% in the 4th quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock valued at $18,326,710,000 after buying an additional 5,454,097 shares during the period. Royal Bank of Canada grew its stake in PepsiCo by 56.6% during the 1st quarter. Royal Bank of Canada now owns 14,810,738 shares of the company’s stock worth $2,479,022,000 after purchasing an additional 5,352,721 shares in the last quarter. Vanguard Group Inc. grew its stake in PepsiCo by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company’s stock worth $20,854,304,000 after purchasing an additional 1,991,968 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in PepsiCo by 34.3% during the 4th quarter. Sanders Capital LLC now owns 6,691,540 shares of the company’s stock worth $1,285,136,000 after purchasing an additional 1,708,005 shares in the last quarter. Hedge funds and other institutional investors own 71.38% of the company’s stock.

Insider Transactions at PepsiCo

In other news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now directly owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the transaction, the chief executive officer now directly owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Credit Suisse Group boosted their target price on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Wells Fargo & Company lowered their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. Barclays lowered their price objective on PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $182.00.

PepsiCo Stock Up 0.1 %

Shares of NASDAQ PEP opened at $168.60 on Friday. The business has a 50-day moving average price of $173.32 and a 200 day moving average price of $170.45. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.78. The stock has a market cap of $232.65 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55. PepsiCo, Inc. has a 52-week low of $149.48 and a 52-week high of $181.07.

PepsiCo (NASDAQ:PEPGet Rating) last posted its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.73 by $0.13. The firm had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.72 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 6.66 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 1st. PepsiCo’s dividend payout ratio is presently 69.28%.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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