Stock Yards Bank & Trust Co. Lowers Stake in PepsiCo, Inc. $PEP

Stock Yards Bank & Trust Co. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 97,210 shares of the company’s stock after selling 7,264 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in PepsiCo were worth $13,652,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Evolution Wealth Management Inc. acquired a new stake in PepsiCo during the 2nd quarter worth approximately $27,000. JCIC Asset Management Inc. acquired a new stake in shares of PepsiCo during the third quarter worth $27,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo in the 2nd quarter valued at $29,000. Vermillion & White Wealth Management Group LLC increased its stake in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC lifted its stake in shares of PepsiCo by 667.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Loop Capital set a $164.00 target price on PepsiCo in a research note on Thursday, October 23rd. UBS Group decreased their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. HSBC increased their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane upgraded shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $179.00 target price on the stock in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.32.

PepsiCo Stock Performance

Shares of PEP stock opened at $147.66 on Wednesday. The stock has a fifty day moving average price of $145.74 and a 200 day moving average price of $144.89. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a market cap of $201.90 billion, a PE ratio of 28.07, a P/E/G ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo’s payout ratio is currently 108.17%.

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.