Bangor Savings Bank Sells 526 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bangor Savings Bank lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,976 shares of the company’s stock after selling 526 shares during the quarter. Bangor Savings Bank’s holdings in PepsiCo were worth $3,798,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PEP. 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 in the last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $183.36.

PepsiCo Stock Performance

NASDAQ PEP opened at $146.27 on Tuesday. The company has a market capitalization of $200.68 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. 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, Inc. has a 52-week low of $146.10 and a 52-week high of $183.41. The company has a 50-day simple moving average of $159.04 and a 200 day simple moving average of $167.12.

PepsiCo (NASDAQ:PEP) last issued 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. 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 quarter last year, the business posted $2.25 EPS. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.71%. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo Company 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.