PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Webster Bank N. A.

Webster Bank N. A. decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,333 shares of the company’s stock after selling 947 shares during the period. Webster Bank N. A.’s holdings in PepsiCo were worth $3,700,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC bought a new position in PepsiCo in the second quarter worth about $34,000. Finally, Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. TD Cowen reduced their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company reduced their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $177.00.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $149.12 on Monday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. 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 company’s 50-day moving average price is $153.88 and its two-hundred day moving average price is $165.34. The stock has a market cap of $204.59 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) is 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.