PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,431 shares of the company’s stock after selling 293 shares during the period. Indiana Trust & Investment Management Co’s holdings in PepsiCo were worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the third quarter valued at about $31,000. Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter worth about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group decreased their target price 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. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Up 0.9 %

Shares of NASDAQ PEP opened at $145.64 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business’s 50 day moving average is $151.05 and its two-hundred day moving average is $163.87. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market cap of $199.75 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

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.