Burke & Herbert Bank & Trust Co. Has $3.54 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Burke & Herbert Bank & Trust Co. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,282 shares of the company’s stock after selling 190 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in PepsiCo were worth $3,540,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares in the last quarter. State Street Corp boosted its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. boosted its holdings in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Swedbank AB boosted its stake in 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 purchasing an additional 1,592,343 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of PepsiCo by 360.0% during the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after buying an additional 1,328,672 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $143.39 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The stock has a market capitalization of $196.66 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54. The business has a 50-day moving average price of $149.80 and a two-hundred day moving average price of $163.06.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Evercore ISI dropped their price objective on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. HSBC cut their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays decreased their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $171.47.

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.