Penobscot Investment Management Company Inc. Has $8.22 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Penobscot Investment Management Company Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,032 shares of the company's stock after selling 5,214 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in PepsiCo were worth $8,216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of PepsiCo in the 4th quarter worth $589,307,000. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. State Street Corp raised its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. Institutional investors own 73.07% of the company's stock.

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PepsiCo Price Performance

NASDAQ:PEP traded down $0.40 during mid-day trading on Friday, reaching $149.27. 8,549,260 shares of the company were exchanged, compared to its average volume of 5,875,691. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market cap of $204.72 billion, a PE ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a fifty day moving average of $149.25 and a 200 day moving average of $158.03.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is 77.99%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Citigroup lowered their target price on PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $169.88.

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.