Perkins Coie Trust Co Sells 102 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Perkins Coie Trust Co decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,538 shares of the company’s stock after selling 102 shares during the quarter. PepsiCo makes up about 1.1% of Perkins Coie Trust Co’s holdings, making the stock its 28th biggest position. Perkins Coie Trust Co’s holdings in PepsiCo were worth $4,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% during the third 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 period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $148.25 on Friday. The firm has a market cap of $203.40 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The company’s 50-day moving average price is $155.37 and its two-hundred day moving average price is $165.83. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors 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 dividend on an annualized basis and a yield of 3.66%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday. Finally, TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $178.60.

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.