Berkshire Bank Has $1.70 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Berkshire Bank cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,282 shares of the company’s stock after selling 100 shares during the period. Berkshire Bank’s holdings in PepsiCo were worth $1,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Paragon Wealth Strategies LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $30,000. Cowen Prime Advisors LLC bought a new position in PepsiCo in the 2nd quarter valued at $34,000. Financial Insights Inc. bought a new position in PepsiCo in the 2nd quarter valued at $36,000. AGF Investments LLC bought a new position in shares of PepsiCo in the 2nd quarter worth $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of PepsiCo in the 2nd quarter worth $44,000. Institutional investors and hedge funds own 70.48% of the company’s stock.

Shares of NASDAQ:PEP traded down $1.51 during midday trading on Thursday, reaching $163.74. The company had a trading volume of 3,308,040 shares, compared to its average volume of 4,732,310. PepsiCo, Inc. has a 1-year low of $128.32 and a 1-year high of $166.80. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.32. The stock has a market cap of $226.40 billion, a PE ratio of 27.89, a P/E/G ratio of 2.97 and a beta of 0.62. The business’s 50 day moving average price is $158.84 and its 200 day moving average price is $154.23.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, October 4th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. PepsiCo had a return on equity of 58.31% and a net margin of 10.62%. The business had revenue of $20.19 billion during the quarter, compared to analysts’ expectations of $19.39 billion. During the same quarter last year, the company posted $1.66 earnings per share. PepsiCo’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 6.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Investors of record on Friday, December 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 2nd. PepsiCo’s payout ratio is currently 73.25%.

In other news, CFO Hugh F. Johnston sold 37,266 shares of the business’s stock in a transaction that occurred on Thursday, October 21st. The stock was sold at an average price of $160.30, for a total transaction of $5,973,739.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.

Several research analysts have recently issued reports on PEP shares. Guggenheim raised their price target on PepsiCo from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 21st. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective on the stock. in a research note on Monday, August 9th. Evercore ISI reaffirmed a “hold” rating and set a $160.00 price objective on shares of PepsiCo in a research note on Thursday, October 7th. Barclays raised their price objective on PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 7th. Finally, UBS Group raised their price objective on PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.86.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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