Keybank National Association OH Trims Position in PepsiCo, Inc. $PEP

Keybank National Association OH lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 929,139 shares of the company’s stock after selling 5,277 shares during the quarter. Keybank National Association OH’s holdings in PepsiCo were worth $130,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. acquired a new position in PepsiCo in the 2nd quarter valued at $27,000. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo in the third quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC raised its holdings in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $153.63 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $210.06 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42. The firm has a 50-day moving average price of $145.94 and a two-hundred day moving average price of $145.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. PepsiCo’s dividend payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Tuesday, October 21st. Barclays set a $148.00 target price on PepsiCo in a report on Friday, January 16th. JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $151.00 to $164.00 in a research note on Wednesday, December 10th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. Finally, Exane BNP Paribas upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.