Berkshire Bank Sells 719 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Berkshire Bank cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,008 shares of the company’s stock after selling 719 shares during the quarter. Berkshire Bank’s holdings in PepsiCo were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates lifted its position 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 in the last quarter. Cross Staff Investments Inc lifted its position in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. grew its stake in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc increased its holdings in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC lifted its holdings in PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PEP shares. UBS Group decreased their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price 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. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $177.00.

PepsiCo Trading Up 3.7 %

Shares of PEP stock opened at $154.61 on Tuesday. The company has a market cap of $212.12 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $153.88 and its two-hundred day simple moving average is $165.35. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

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 paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.