PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Citizens Business Bank

Citizens Business Bank lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 20.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,821 shares of the company’s stock after selling 969 shares during the quarter. Citizens Business Bank’s holdings in PepsiCo were worth $650,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in PepsiCo in the 3rd quarter worth approximately $527,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $159.84 on Wednesday. The company has a market cap of $219.30 billion, a P/E ratio of 23.58, a PEG ratio of 2.94 and a beta of 0.52. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The business’s 50-day simple moving average is $166.62 and its 200 day simple moving average is $169.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.39%. PepsiCo’s dividend payout ratio (DPR) is 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.