PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,345 shares of the company’s stock after selling 133 shares during the period. PepsiCo comprises 1.4% of Kennebec Savings Bank’s investment portfolio, making the stock its 16th biggest position. Kennebec Savings Bank’s holdings in PepsiCo were worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. boosted its stake in PepsiCo by 13.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 579 shares of the company’s stock worth $95,000 after buying an additional 68 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in PepsiCo during the second quarter worth about $223,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PepsiCo by 116.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 617,014 shares of the company’s stock valued at $101,764,000 after buying an additional 332,558 shares during the period. Anchor Investment Management LLC raised its position in shares of PepsiCo by 17.5% during the 2nd quarter. Anchor Investment Management LLC now owns 26,359 shares of the company’s stock valued at $4,347,000 after buying an additional 3,923 shares during the period. Finally, Centaurus Financial Inc. grew its position in PepsiCo by 210.2% in the second quarter. Centaurus Financial Inc. now owns 14,419 shares of the company’s stock worth $2,378,000 after acquiring an additional 9,770 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $151.90 on Friday. The company has a market cap of $208.41 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.91 and a beta of 0.54. The firm has a 50 day moving average price of $153.51 and a 200 day moving average price of $165.07. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PEP shares. Royal Bank of Canada restated a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a report on Wednesday. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $176.73.

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.