Canandaigua National Trust Co of Florida Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Canandaigua National Trust Co of Florida reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,776 shares of the company’s stock after selling 1,769 shares during the period. PepsiCo makes up approximately 0.9% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 21st biggest holding. Canandaigua National Trust Co of Florida’s holdings in PepsiCo were worth $1,182,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. boosted its position in PepsiCo by 57.7% in the second quarter. SRS Capital Advisors Inc. now owns 4,520 shares of the company’s stock valued at $746,000 after buying an additional 1,654 shares during the last quarter. Norden Group LLC increased its stake in shares of PepsiCo by 2.3% in the second quarter. Norden Group LLC now owns 7,920 shares of the company’s stock worth $1,306,000 after acquiring an additional 180 shares during the period. Umpqua Bank raised its holdings in shares of PepsiCo by 4.2% during the second quarter. Umpqua Bank now owns 12,337 shares of the company’s stock worth $2,035,000 after purchasing an additional 499 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in PepsiCo by 8,835.5% in the second quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock valued at $192,000 after purchasing an additional 115,303 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in PepsiCo by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 799,532 shares of the company’s stock worth $131,845,000 after purchasing an additional 38,607 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note 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 note on Friday, October 4th. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $184.31.

PepsiCo Price Performance

PEP stock traded down $3.38 during mid-day trading on Monday, reaching $146.27. The company’s stock had a trading volume of 9,450,510 shares, compared to its average volume of 5,480,249. The stock has a market cap of $200.68 billion, a PE ratio of 21.57, a P/E/G ratio of 2.94 and a beta of 0.54. The company’s 50 day moving average is $159.51 and its two-hundred day moving average is $167.26. PepsiCo, Inc. has a fifty-two week low of $146.10 and a fifty-two week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the business earned $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm 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 $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.71%. PepsiCo’s dividend payout ratio is currently 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.