Indiana Trust & Investment Management Co Has $1.31 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Indiana Trust & Investment Management Co decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,724 shares of the company’s stock after selling 568 shares during the period. Indiana Trust & Investment Management Co’s holdings in PepsiCo were worth $1,313,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. increased its holdings in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC raised its holdings in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton raised its stake in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.9 %

Shares of NASDAQ PEP traded down $1.60 during mid-day trading on Wednesday, reaching $174.30. 1,609,302 shares of the company’s stock traded hands, compared to its average volume of 5,487,249. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a market cap of $239.63 billion, a P/E ratio of 25.25, a PEG ratio of 3.11 and a beta of 0.53. The business has a 50-day simple moving average of $173.63 and a 200 day simple moving average of $172.08.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.11%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PEP shares. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Barclays lowered their target price 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

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.