Penobscot Investment Management Company Inc. Buys 3,368 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Penobscot Investment Management Company Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,569 shares of the company’s stock after purchasing an additional 3,368 shares during the quarter. PepsiCo accounts for 1.0% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 28th biggest holding. Penobscot Investment Management Company Inc.’s holdings in PepsiCo were worth $8,589,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after buying an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of PepsiCo by 0.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after buying an additional 102 shares during the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in PepsiCo in the fourth quarter valued at about $405,000. Manchester Capital Management LLC boosted its position in PepsiCo by 1.4% during the 3rd quarter. Manchester Capital Management LLC now owns 13,240 shares of the company’s stock worth $2,243,000 after buying an additional 185 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after purchasing an additional 3,159 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.67 during midday trading on Tuesday, reaching $175.47. The company had a trading volume of 1,266,009 shares, compared to its average volume of 5,766,728. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The company’s 50 day moving average price is $169.60 and its 200 day moving average price is $168.05. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The stock has a market cap of $241.23 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the business posted $1.50 EPS. PepsiCo’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is currently 76.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEP. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Jefferies Financial Group increased their price target on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Barclays boosted their price target on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

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.