Harbour Trust & Investment Management Co Sells 3,769 Shares of PepsiCo, Inc. $PEP

Harbour Trust & Investment Management Co lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,816 shares of the company’s stock after selling 3,769 shares during the period. Harbour Trust & Investment Management Co’s holdings in PepsiCo were worth $9,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Evolution Wealth Management Inc. bought a new stake in PepsiCo during the 2nd quarter valued at $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo during the second quarter valued at $29,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC raised its holdings in shares of PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its stake in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of research reports. BNP Paribas Exane cut their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. UBS Group lowered their target price on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler increased their target price on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, Barclays boosted their price target on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.58.

PepsiCo Stock Performance

Shares of PEP stock opened at $146.57 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The business’s fifty day simple moving average is $145.55 and its 200-day simple moving average is $144.51. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market cap of $200.41 billion, a PE ratio of 27.87, a PEG ratio of 4.78 and a beta of 0.42.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were paid a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.