First Citizens Bank & Trust Co. Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

First Citizens Bank & Trust Co. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,369 shares of the company’s stock after selling 916 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in PepsiCo were worth $13,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the second quarter worth $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock opened at $175.06 on Friday. The company has a market capitalization of $240.18 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53. The company’s fifty day moving average price is $173.78 and its 200-day moving average price is $172.13. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. 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 (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo 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.