Riverview Trust Co Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Riverview Trust Co lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,187 shares of the company’s stock after selling 154 shares during the quarter. Riverview Trust Co’s holdings in PepsiCo were worth $542,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PEP. Flossbach Von Storch AG boosted its holdings 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 acquiring an additional 1,832,385 shares during the period. Swedbank AB boosted its stake in shares of PepsiCo by 211.4% in the third 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. PineStone Asset Management Inc. grew its holdings in PepsiCo by 125.2% during the 2nd 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 in the last quarter. Van ECK Associates Corp lifted its holdings 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. Finally, Legal & General Group Plc boosted its position 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 buying an additional 905,468 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $175.06 on Friday. 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 firm’s 50 day moving average is $173.78 and its 200-day moving average is $172.13. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock has a market capitalization of $240.18 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

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.