Trade Report: Today, Ledyard National Bank Cuts Stake in PepsiCo Inc. (PEP)

Today, Ledyard National Bank Cuts Stake in PepsiCo Inc. (PEP)

Ledyard National Bank reduced its position in PepsiCo Inc. (NYSE:PEP) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,334 shares of the company’s stock after selling 1,277 shares during the period. Ledyard National Bank’s holdings in PepsiCo were worth $5,257,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. D. Scott Neal Inc. increased its stake in shares of PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the last quarter. Delphi Private Advisors LLC boosted its position in PepsiCo by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock valued at $106,000 after buying an additional 13 shares during the period. Piershale Financial Group Inc. boosted its position in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the period. Global X Management Co. LLC boosted its position in PepsiCo by 92.1% in the second quarter. Global X Management Co. LLC now owns 1,101 shares of the company’s stock valued at $117,000 after buying an additional 528 shares during the period. Finally, Stelac Advisory Services LLC boosted its position in PepsiCo by 13.9% in the second quarter. Stelac Advisory Services LLC now owns 1,185 shares of the company’s stock valued at $126,000 after buying an additional 145 shares during the period. Institutional investors own 69.19% of the company’s stock.

PepsiCo Inc. (NYSE:PEP) traded up 0.61% on Monday, reaching $102.79. The company’s stock had a trading volume of 5,549,368 shares. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94. The firm’s 50 day moving average price is $105.22 and its 200-day moving average price is $105.82. The company has a market capitalization of $147.42 billion, a price-to-earnings ratio of 22.55 and a beta of 0.54.

PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. The business earned $16 billion during the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. Equities analysts forecast that PepsiCo Inc. will post $4.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Wednesday, November 30th. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.

Several equities analysts have recently issued reports on PEP shares. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Monday, November 14th. Vetr raised PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price on the stock in a research note on Wednesday, September 7th. Bank of America Corp. reissued a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Thursday, September 22nd. Credit Suisse Group AG started coverage on PepsiCo in a research note on Thursday, September 15th. They set an “outperform” rating and a $121.00 target price on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Monday, October 3rd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $113.71.

About PepsiCo

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

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