Mechanics Bank Trust Department Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mechanics Bank Trust Department cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% during the fourth quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEP. Barclays reduced their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $178.60.

PepsiCo Trading Up 1.2 %

NASDAQ PEP opened at $148.25 on Monday. The company has a 50-day moving average of $155.37 and a 200-day moving average of $165.86. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a market cap of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo Company 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.