Mechanics Financial Corp Has $2.16 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mechanics Financial Corp decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,171 shares of the company’s stock after selling 100 shares during the period. PepsiCo accounts for 1.0% of Mechanics Financial Corp’s investment portfolio, making the stock its 23rd biggest holding. Mechanics Financial Corp’s holdings in PepsiCo were worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Collier Financial acquired a new position in PepsiCo during the 4th quarter valued at $28,000. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter valued at about $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEP shares. BNP Paribas lowered their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. HSBC decreased their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price target for the company. Finally, Citigroup lowered their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $169.88.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP opened at $149.27 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm’s 50-day simple moving average is $149.25 and its 200 day simple moving average is $158.17. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. During the same period in the prior year, the business earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. PepsiCo’s payout ratio is currently 77.99%.

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.