Keybank National Association OH Cuts Stock Position in PepsiCo, Inc. $PEP

Keybank National Association OH decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 929,139 shares of the company’s stock after selling 5,277 shares during the quarter. Keybank National Association OH owned 0.07% of PepsiCo worth $130,488,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PEP. Evolution Wealth Management Inc. purchased a new position in PepsiCo in the second quarter valued at $27,000. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of PepsiCo by 107.1% in the 2nd 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 grew its position in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC increased its stake in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 3.3%

PepsiCo stock opened at $153.63 on Friday. The company has a market capitalization of $210.06 billion, a P/E ratio of 29.21, a PEG ratio of 4.89 and a beta of 0.42. 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 fifty-two week low of $127.60 and a fifty-two week high of $160.15. The stock has a 50-day simple moving average of $145.94 and a 200-day simple moving average of $145.45.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.7%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. BNP Paribas Exane upgraded shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price target for the company in a report on Friday, January 16th. Piper Sandler boosted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. UBS Group lowered their price objective on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Finally, Bank of America raised their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.29.

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.