First County Bank CT Purchases 351 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First County Bank CT boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,268 shares of the company’s stock after buying an additional 351 shares during the period. First County Bank CT’s holdings in PepsiCo were worth $1,066,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Barclays decreased their price objective 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. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 1.0 %

NASDAQ:PEP opened at $160.29 on Friday. The firm has a market capitalization of $219.92 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.92 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $169.32 and a 200 day moving average of $171.08. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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 business posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is presently 79.94%.

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.