Wesbanco Bank Inc. Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Wesbanco Bank Inc. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 157,700 shares of the company’s stock after purchasing an additional 5,015 shares during the quarter. PepsiCo comprises about 0.8% of Wesbanco Bank Inc.’s holdings, making the stock its 23rd biggest holding. Wesbanco Bank Inc.’s holdings in PepsiCo were worth $23,980,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% during the third 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. Cross Staff Investments Inc boosted its position in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. raised its position in PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc lifted its stake in PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC grew its stake in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after buying an additional 62 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $178.20.

PepsiCo Stock Performance

PEP opened at $148.09 on Thursday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The stock has a market cap of $203.18 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.75 and a beta of 0.54. The stock’s 50 day simple moving average is $154.74 and its 200 day simple moving average is $165.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.