WASHINGTON TRUST Co Has $37.92 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)
WASHINGTON TRUST Co grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 268,089 shares of the company’s stock after acquiring an additional 9,983 shares during the period. PepsiCo makes up 1.2% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 22nd largest position. WASHINGTON TRUST Co’s holdings in PepsiCo were worth $37,920,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $27,000. Emerson Wealth Management LLC acquired a new stake in PepsiCo during the 1st quarter valued at $28,000. PrairieView Partners LLC acquired a new stake in PepsiCo during the 4th quarter valued at $30,000. Inspire Advisors LLC acquired a new stake in PepsiCo during the 4th quarter valued at $31,000. Finally, Interactive Financial Advisors acquired a new stake in PepsiCo during the 4th quarter valued at $33,000. 69.94% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on PEP shares. Barclays upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price objective on the stock in a research report on Monday, March 29th. Morgan Stanley increased their price objective on PepsiCo from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. Guggenheim reiterated a “buy” rating on shares of PepsiCo in a research report on Thursday, April 1st. Wolfe Research started coverage on PepsiCo in a research report on Monday, April 19th. They set a “peer perform” rating on the stock. Finally, Credit Suisse Group increased their price objective on PepsiCo from $144.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $149.23.
PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 14th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.09. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The firm had revenue of $14.82 billion for the quarter, compared to analysts’ expectations of $14.54 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were given a $1.0225 dividend. This represents a $4.09 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, March 4th. PepsiCo’s dividend payout ratio is presently 73.96%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company 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.
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