UMB Bank n.a. Sells 3,548 Shares of PepsiCo, Inc. $PEP

UMB Bank n.a. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,644 shares of the company’s stock after selling 3,548 shares during the quarter. UMB Bank n.a.’s holdings in PepsiCo were worth $9,921,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PEP. Evolution Wealth Management Inc. bought a new position in shares of PepsiCo in the 2nd quarter worth about $27,000. JCIC Asset Management Inc. bought a new stake in PepsiCo in the third quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC lifted its stake in PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 3.3%

PEP opened at $153.63 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The firm has a market capitalization of $210.06 billion, a PE ratio of 29.21, a P/E/G ratio of 4.89 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company’s 50-day moving average is $145.94 and its 200 day moving average is $145.53.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.7%. PepsiCo’s dividend payout ratio is 108.17%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Piper Sandler lifted their price target on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. UBS Group cut their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Citigroup raised their target price on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, HSBC upped their price target on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.