Independence Bank of Kentucky Acquires 10,427 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Independence Bank of Kentucky raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 35.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 39,991 shares of the company’s stock after buying an additional 10,427 shares during the period. PepsiCo accounts for 0.9% of Independence Bank of Kentucky’s holdings, making the stock its 20th largest holding. Independence Bank of Kentucky’s holdings in PepsiCo were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

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

PepsiCo Trading Down 0.8 %

NASDAQ PEP opened at $150.69 on Friday. The company has a market cap of $206.75 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. 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 business’s fifty day moving average is $153.12 and its 200 day moving average is $164.88.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

PepsiCo Profile

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.