Orrstown Financial Services Inc. Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Orrstown Financial Services Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,984 shares of the company’s stock after selling 169 shares during the period. Orrstown Financial Services Inc.’s holdings in PepsiCo were worth $1,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its position in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its stake in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group lowered 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 analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $0.35 during trading hours on Wednesday, hitting $150.60. 341,751 shares of the stock were exchanged, compared to its average volume of 6,508,709. The firm has a market capitalization of $206.62 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.86 and a beta of 0.54. The company’s 50 day moving average is $153.68 and its 200 day moving average is $165.17. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. 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.