Country Trust Bank Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Country Trust Bank increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,432 shares of the company’s stock after buying an additional 5,004 shares during the period. Country Trust Bank’s holdings in PepsiCo were worth $20,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after acquiring an additional 313,468 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.0 %

Shares of NASDAQ PEP opened at $151.90 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $208.41 billion, a PE ratio of 22.40, a P/E/G ratio of 2.91 and a beta of 0.54. The firm has a fifty day moving average of $153.35 and a 200-day moving average of $164.97. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.57%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEP shares. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a research report on Wednesday. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays dropped their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PepsiCo currently 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.