First Citizens Bank & Trust Co. Sells 3,370 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Citizens Bank & Trust Co. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,999 shares of the company’s stock after selling 3,370 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in PepsiCo were worth $11,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the third quarter worth $31,000. Rakuten Securities Inc. lifted its position 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 buying an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $149.12 on Friday. The company has a 50 day simple moving average of $153.88 and a two-hundred day simple moving average of $165.31. The company has a market capitalization of $204.59 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week 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 business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.