Independence Bank of Kentucky Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Independence Bank of Kentucky raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 35.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,991 shares of the company’s stock after buying an additional 10,427 shares during the quarter. PepsiCo makes up approximately 0.9% of Independence Bank of Kentucky’s holdings, making the stock its 20th largest holding. Independence Bank of Kentucky’s holdings in PepsiCo were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Cross Staff Investments Inc lifted its position in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. raised its stake in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc grew its stake in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the last quarter. Demars Financial Group LLC raised its position in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after purchasing an additional 62 shares during the last quarter. Finally, Sigma Investment Counselors Inc. lifted its holdings in PepsiCo by 1.6% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock worth $733,000 after buying an additional 66 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays decreased their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $176.73.

PepsiCo Price Performance

NASDAQ:PEP opened at $150.69 on Friday. The stock’s 50-day simple moving average is $153.12 and its 200 day simple moving average is $164.88. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $206.75 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.91 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 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.