Fulton Bank N.A. Has $3.82 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Fulton Bank N.A. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,141 shares of the company’s stock after purchasing an additional 2,158 shares during the quarter. Fulton Bank N.A.’s holdings in PepsiCo were worth $3,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates increased its position in 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 acquiring an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during 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 valued at $34,000 after buying an additional 96 shares during the period. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter valued at about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP traded up $0.15 during mid-day trading on Wednesday, hitting $145.55. 2,481,504 shares of the company traded hands, compared to its average volume of 5,906,116. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average of $158.60 and a 200 day moving average of $166.97. PepsiCo, Inc. has a one year low of $144.56 and a one year high of $183.41. The stock has a market capitalization of $199.69 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.25 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. PepsiCo’s payout ratio is presently 79.94%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEP. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $182.29.

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.