Central Pacific Bank Trust Division Has $2.21 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Central Pacific Bank Trust Division reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,988 shares of the company’s stock after selling 4,845 shares during the period. Central Pacific Bank Trust Division’s holdings in PepsiCo were worth $2,209,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Flossbach Von Storch AG increased its holdings in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the period. PineStone Asset Management Inc. increased its stake in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the period. Van ECK Associates Corp lifted its position in PepsiCo by 429.3% in the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of PepsiCo during the 1st quarter valued at $166,243,000. Finally, Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PEP shares. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Jefferies Financial Group reduced their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.40.

PepsiCo Stock Performance

NASDAQ:PEP opened at $169.55 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a 50-day moving average price of $173.95 and a 200 day moving average price of $172.15. The firm has a market capitalization of $232.89 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is currently 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.