PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,943 shares of the company’s stock after selling 1,598 shares during the quarter. Mechanics Bank Trust Department’s holdings in PepsiCo were worth $4,401,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. increased its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PEP shares. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday. 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 objective for the company. Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen cut their price target 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. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $178.60.

PepsiCo Stock Up 1.2 %

PepsiCo stock opened at $148.25 on Monday. The stock has a 50 day moving average of $155.37 and a two-hundred day moving average of $165.86. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.57 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.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors 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 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 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.