First United Bank & Trust Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First United Bank & Trust cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,056 shares of the company’s stock after selling 378 shares during the period. First United Bank & Trust’s holdings in PepsiCo were worth $1,833,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo during the second quarter worth approximately $34,000. Finally, Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $148.25 on Tuesday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company’s 50-day simple moving average is $155.37 and its 200-day simple moving average is $165.86. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.74 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEP. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Finally, UBS Group dropped their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.60.

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.