Adirondack Trust Co. Sells 599 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Adirondack Trust Co. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,711 shares of the company’s stock after selling 599 shares during the period. PepsiCo makes up about 1.2% of Adirondack Trust Co.’s holdings, making the stock its 19th biggest holding. Adirondack Trust Co.’s holdings in PepsiCo were worth $3,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% during 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 during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP opened at $148.09 on Thursday. The company has a 50 day simple moving average of $154.74 and a two-hundred day simple moving average of $165.64. The company has a market cap of $203.18 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.75 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 $141.51 and a 12 month high of $183.41.

PepsiCo Announces Dividend

The company 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 dividend yield of 3.66%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $178.20.

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.