Canandaigua National Bank & Trust Co. Sells 1,348 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canandaigua National Bank & Trust Co. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 67,645 shares of the company’s stock after selling 1,348 shares during the period. PepsiCo accounts for about 1.0% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 19th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in PepsiCo were worth $10,286,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in PEP. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares in the last quarter. IHT Wealth Management LLC grew its stake in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in PepsiCo in the 3rd quarter valued at $9,589,000. Finally, Kestra Investment Management LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at about $527,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 2.3 %

PEP traded down $3.38 during trading on Monday, hitting $146.27. 9,448,868 shares of the stock were exchanged, compared to its average volume of 5,480,249. PepsiCo, Inc. has a 1 year low of $146.10 and a 1 year high of $183.41. The firm has a market cap of $200.68 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 2.94 and a beta of 0.54. The firm has a 50 day simple moving average of $159.51 and a 200 day simple moving average of $167.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.71%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $184.31.

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.