WASHINGTON TRUST Co Has $19.03 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

WASHINGTON TRUST Co lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 111,944 shares of the company’s stock after selling 1,552 shares during the quarter. WASHINGTON TRUST Co’s holdings in PepsiCo were worth $19,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in 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. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

Shares of PEP stock traded down $0.40 during mid-day trading on Wednesday, hitting $167.10. The company’s stock had a trading volume of 658,988 shares, compared to its average volume of 5,443,876. The company has a market cap of $229.73 billion, a PE ratio of 24.24, a P/E/G ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week 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. The company’s fifty day simple moving average is $173.61 and its 200-day simple moving average is $172.29.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.