Essex Savings Bank Sells 1,440 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Essex Savings Bank cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,156 shares of the company’s stock after selling 1,440 shares during the period. PepsiCo accounts for approximately 0.8% of Essex Savings Bank’s portfolio, making the stock its 26th biggest holding. Essex Savings Bank’s holdings in PepsiCo were worth $3,065,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PEP. Global Wealth Strategies & Associates increased its position in 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 buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% in the 3rd 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 period. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1 %

NASDAQ PEP opened at $144.78 on Thursday. 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, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market capitalization of $198.64 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The stock has a fifty day moving average of $156.46 and a 200-day moving average of $166.20.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.74%. PepsiCo’s payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.64.

PepsiCo 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.