CoreFirst Bank & Trust Acquires Shares of 7,319 PepsiCo, Inc. (NASDAQ:PEP)

CoreFirst Bank & Trust purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,319 shares of the company’s stock, valued at approximately $1,113,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Collier Financial acquired a new position in PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC acquired a new stake in PepsiCo during the fourth quarter worth $34,000. Finally, Human Investing LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEP shares. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. TD Cowen decreased 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. Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $168.00 to $156.00 in a research report on Tuesday, March 18th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Stock Up 0.7 %

PepsiCo stock opened at $146.45 on Tuesday. The stock has a market cap of $200.86 billion, a PE ratio of 21.07, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock’s fifty day moving average is $149.08 and its two-hundred day moving average is $158.73. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.