Peoples Bank OH Sells 1,275 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Peoples Bank OH lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 30.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,868 shares of the company’s stock after selling 1,275 shares during the period. Peoples Bank OH’s holdings in PepsiCo were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Cordatus Wealth Management LLC increased its holdings in shares of PepsiCo by 1.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 17,973 shares of the company’s stock worth $2,733,000 after buying an additional 233 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at $209,000. Legacy Capital Group California Inc. boosted its stake in shares of PepsiCo by 8.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 1,371 shares of the company’s stock valued at $209,000 after purchasing an additional 108 shares in the last quarter. Suncoast Equity Management boosted its stake in shares of PepsiCo by 1.1% in the 4th quarter. Suncoast Equity Management now owns 15,154 shares of the company’s stock valued at $2,304,000 after purchasing an additional 162 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC boosted its stake in shares of PepsiCo by 48.8% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 15,120 shares of the company’s stock valued at $2,299,000 after purchasing an additional 4,962 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BNP Paribas cut their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Citigroup dropped their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Barclays dropped their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Up 2.3 %

Shares of PepsiCo stock opened at $149.10 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a 50-day moving average of $148.94 and a 200 day moving average of $162.49. The firm has a market cap of $204.49 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 3.02 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.31 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.64%. PepsiCo’s payout ratio is 77.99%.

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.