PepsiCo, Inc. (NASDAQ:PEP) Stock Position Trimmed by OLD National Bancorp IN

OLD National Bancorp IN cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,346 shares of the company’s stock after selling 1,933 shares during the quarter. OLD National Bancorp IN’s holdings in PepsiCo were worth $10,697,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEP. Westhampton Capital LLC increased its stake in PepsiCo by 0.6% during the 4th quarter. Westhampton Capital LLC now owns 28,052 shares of the company’s stock valued at $4,266,000 after buying an additional 160 shares during the period. Lawson Kroeker Investment Management Inc. NE increased its stake in PepsiCo by 14.8% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 16,541 shares of the company’s stock valued at $2,515,000 after buying an additional 2,134 shares during the period. Murphy Pohlad Asset Management LLC increased its stake in PepsiCo by 1.7% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 17,965 shares of the company’s stock valued at $2,732,000 after buying an additional 298 shares during the period. DMC Group LLC increased its stake in PepsiCo by 13.9% during the 4th quarter. DMC Group LLC now owns 2,227 shares of the company’s stock valued at $339,000 after buying an additional 272 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in PepsiCo during the 4th quarter valued at about $160,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.1 %

Shares of NASDAQ PEP opened at $150.37 on Thursday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The firm has a market capitalization of $206.31 billion, a PE ratio of 22.18, a PEG ratio of 2.86 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $153.68 and a two-hundred day moving average price of $165.17.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on PEP. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Finally, UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $176.73.

About PepsiCo

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.