PepsiCo, Inc. $PEP Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,210 shares of the company’s stock after selling 7,264 shares during the period. Stock Yards Bank & Trust Co.’s holdings in PepsiCo were worth $13,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after acquiring an additional 1,761,785 shares in the last quarter. State Street Corp increased its holdings in PepsiCo by 1.6% during the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after purchasing an additional 920,045 shares during the period. Geode Capital Management LLC raised its position in PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after purchasing an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Norges Bank purchased a new stake in shares of PepsiCo during the second quarter worth approximately $2,330,594,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PEP shares. Bank of America lifted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Rothschild & Co Redburn increased their target price on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Piper Sandler lifted their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $161.32.

PepsiCo Stock Performance

Shares of PEP stock opened at $147.66 on Wednesday. The stock’s 50-day moving average is $145.74 and its two-hundred day moving average is $144.89. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The firm has a market cap of $201.90 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.79 and a beta of 0.42.

PepsiCo Announces Dividend

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

PepsiCo Company Profile

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.