Whittier Trust Co. Sells 56,466 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Whittier Trust Co. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,362 shares of the company’s stock after selling 56,466 shares during the quarter. Whittier Trust Co.’s holdings in PepsiCo were worth $20,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Collier Financial purchased a new position in shares of PepsiCo during the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $34,000. Finally, Human Investing LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.6 %

PEP opened at $148.11 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market cap of $203.13 billion, a PE ratio of 21.31, a PEG ratio of 3.09 and a beta of 0.52. The business has a 50 day moving average of $148.97 and a 200-day moving average of $159.50.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo’s payout ratio is 77.99%.

Analyst Ratings Changes

Several research firms have issued reports on PEP. Citigroup cut their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $168.00 to $156.00 in a research report on Tuesday. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $169.88.

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.