Hilltop National Bank Has $2.77 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Hilltop National Bank decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,207 shares of the company’s stock after selling 1,129 shares during the period. PepsiCo comprises 0.8% of Hilltop National Bank’s holdings, making the stock its 24th largest holding. Hilltop National Bank’s holdings in PepsiCo were worth $2,769,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted 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 purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the second quarter worth $34,000. Finally, Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% in 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective 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. Wells Fargo & Company reduced their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday. They set an “overweight” rating and a $171.00 price target on the stock. Finally, TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Down 3.1 %

PepsiCo stock traded down $4.55 during midday trading on Friday, reaching $141.99. The stock had a trading volume of 2,983,045 shares, compared to its average volume of 6,092,107. The company has a fifty day moving average price of $157.81 and a two-hundred day moving average price of $166.68. The company has a market capitalization of $194.81 billion, a P/E ratio of 20.94, a PEG ratio of 2.94 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $141.97 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm 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. This represents a $5.42 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is presently 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.