Busey Bank Has $33.39 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Busey Bank cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 219,609 shares of the company’s stock after selling 407 shares during the period. PepsiCo makes up approximately 1.1% of Busey Bank’s holdings, making the stock its 21st largest holding. Busey Bank’s holdings in PepsiCo were worth $33,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates raised its stake 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 buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. lifted its stake in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company decreased their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Finally, Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.73.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $150.37 on Thursday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 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. The stock has a market capitalization of $206.31 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.86 and a beta of 0.54. The firm has a fifty day moving average of $153.68 and a two-hundred day moving average of $165.17.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.60%. PepsiCo’s payout ratio is currently 79.94%.

PepsiCo 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.