PepsiCo, Inc. (NASDAQ:PEP) Stake Cut by Greenfield Savings Bank

Greenfield Savings Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,558 shares of the company’s stock after selling 97 shares during the quarter. Greenfield Savings Bank’s holdings in PepsiCo were worth $1,301,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $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 worth about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its holdings in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP stock opened at $144.50 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $198.25 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a 50 day moving average of $156.92 and a two-hundred day moving average of $166.35.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Ratings Changes

A number of brokerages have recently commented on PEP. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $180.64.

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.