Hemenway Trust Co LLC Sells 840 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hemenway Trust Co LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% in the third quarter, HoldingsChannel.com reports. The firm owned 11,839 shares of the company’s stock after selling 840 shares during the period. Hemenway Trust Co LLC’s holdings in PepsiCo were worth $2,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Savvy Advisors Inc. boosted its holdings in shares of PepsiCo by 87.4% during the 3rd quarter. Savvy Advisors Inc. now owns 3,241 shares of the company’s stock valued at $551,000 after purchasing an additional 1,512 shares during the last quarter. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in PepsiCo by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,725,877 shares of the company’s stock worth $633,585,000 after acquiring an additional 51,891 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of PepsiCo by 5.6% during the 3rd quarter. Baillie Gifford & Co. now owns 708,275 shares of the company’s stock valued at $120,442,000 after acquiring an additional 37,308 shares during the last quarter. Finally, Apollon Financial LLC purchased a new position in shares of PepsiCo in the third quarter valued at $215,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.5 %

Shares of PEP traded down $0.76 during midday trading on Tuesday, hitting $163.50. 369,155 shares of the company’s stock traded hands, compared to its average volume of 5,432,152. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The firm’s fifty day moving average is $172.02 and its 200-day moving average is $171.85. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $224.32 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

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.