NBT Bank N A NY lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 11.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 84,553 shares of the company’s stock after selling 11,349 shares during the period. PepsiCo comprises approximately 1.6% of NBT Bank N A NY’s portfolio, making the stock its 13th largest position. NBT Bank N A NY’s holdings in PepsiCo were worth $9,205,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Heritage Way Advisors LLC raised its holdings in shares of PepsiCo by 2.6% in the second quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock valued at $1,913,000 after buying an additional 450 shares during the last quarter. Investment House LLC increased its stake in shares of PepsiCo by 0.8% during the second quarter. Investment House LLC now owns 59,730 shares of the company’s stock worth $6,503,000 after acquiring an additional 471 shares during the period. Thompson Investment Management Inc. increased its stake in shares of PepsiCo by 1.4% during the second quarter. Thompson Investment Management Inc. now owns 33,809 shares of the company’s stock worth $3,681,000 after acquiring an additional 480 shares during the period. Trust Co. of Toledo NA OH increased its stake in shares of PepsiCo by 1.1% during the second quarter. Trust Co. of Toledo NA OH now owns 45,803 shares of the company’s stock worth $4,986,000 after acquiring an additional 484 shares during the period. Finally, Kanawha Capital Management LLC grew its position in PepsiCo by 0.4% during the second quarter. Kanawha Capital Management LLC now owns 132,540 shares of the company’s stock worth $14,430,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Several brokerages have issued reports on PEP. TheStreet raised shares of PepsiCo from a “c+” rating to a “b-” rating in a report on Friday, July 6th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. ValuEngine raised shares of PepsiCo from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Citigroup upped their price objective on shares of PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. PepsiCo currently has an average rating of “Hold” and an average target price of $117.89.
In other news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the transaction, the chief executive officer now directly owns 130,135 shares in the company, valued at approximately $13,897,116.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.
PEP traded up $0.22 during trading hours on Friday, reaching $105.28. 4,352,394 shares of the stock traded hands, compared to its average volume of 5,014,748. The firm has a market cap of $158.12 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.63 and a beta of 0.67. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.02. The company had revenue of $16.49 billion during the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. On average, analysts forecast that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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