Adirondack Trust Co. Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Adirondack Trust Co. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,711 shares of the company’s stock after selling 599 shares during the quarter. PepsiCo makes up approximately 1.2% of Adirondack Trust Co.’s holdings, making the stock its 19th biggest position. Adirondack Trust Co.’s holdings in PepsiCo were worth $3,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its stake in shares of 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 in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth 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 in the 2nd quarter worth approximately $34,000. Finally, Rakuten Securities Inc. boosted its stake in PepsiCo by 93.2% in the 3rd 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. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $148.09 on Thursday. The company has a market capitalization of $203.18 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.75 and a beta of 0.54. The company’s 50-day simple moving average is $154.74 and its two-hundred day simple moving average is $165.64. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group cut their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $178.20.

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.