PepsiCo, Inc. $PEP Shares Sold by Peoples Bank KS

Peoples Bank KS trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 41.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,904 shares of the company’s stock after selling 8,484 shares during the quarter. PepsiCo makes up approximately 1.7% of Peoples Bank KS’s holdings, making the stock its 18th largest position. Peoples Bank KS’s holdings in PepsiCo were worth $1,672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Claris Advisors LLC MO lifted its position in PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after purchasing an additional 308 shares during the last quarter. Foster Group Inc. increased its stake in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the period. Merit Financial Group LLC raised its holdings in shares of PepsiCo by 46.4% during the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after buying an additional 36,239 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of PepsiCo by 2.5% during the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after buying an additional 620 shares during the period. Finally, Naples Global Advisors LLC grew its holdings in PepsiCo by 2.3% in the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after buying an additional 592 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEP. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $151.00 to $164.00 in a research report on Wednesday, December 10th. Rothschild & Co Redburn increased their target price on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday. Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Piper Sandler increased their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $158.75.

PepsiCo Stock Performance

Shares of PEP opened at $150.08 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm’s 50 day moving average is $147.94 and its 200-day moving average is $142.69. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The stock has a market capitalization of $205.21 billion, a P/E ratio of 28.53, a P/E/G ratio of 5.19 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.31 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

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.