Legacy Trust Has $1.51 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Trust lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,929 shares of the company’s stock after selling 621 shares during the quarter. Legacy Trust’s holdings in PepsiCo were worth $1,510,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates grew its holdings in shares of 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 third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the third quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $172.00 price target on shares of PepsiCo in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $176.73.

PepsiCo Stock Up 0.1 %

Shares of PepsiCo stock opened at $150.37 on Thursday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The business has a fifty day simple moving average of $153.68 and a 200 day simple moving average of $165.17. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $206.31 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. PepsiCo’s dividend payout ratio is 79.94%.

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.