CNB Bank Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

CNB Bank lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,450 shares of the company’s stock after selling 312 shares during the quarter. PepsiCo accounts for 0.8% of CNB Bank’s investment portfolio, making the stock its 28th biggest position. CNB Bank’s holdings in PepsiCo were worth $1,741,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms recently issued reports on PEP. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.27.

PepsiCo Trading Up 1.0 %

Shares of PEP stock opened at $148.03 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a 50-day simple moving average of $156.06 and a 200 day simple moving average of $166.05. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a market capitalization of $203.10 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm 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 was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo Company 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.