Bangor Savings Bank Sells 526 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bangor Savings Bank lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,976 shares of the company’s stock after selling 526 shares during the period. Bangor Savings Bank’s holdings in PepsiCo were worth $3,798,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Janus Henderson Group PLC grew its position in PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at about $9,589,000. Finally, Kestra Investment Management LLC purchased a new position in shares of PepsiCo during the third quarter worth about $527,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PEP shares. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Piper Sandler began coverage on PepsiCo in a report on Tuesday. They set an “overweight” rating and a $171.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $183.36.

PepsiCo Trading Down 2.3 %

Shares of PEP opened at $146.27 on Tuesday. PepsiCo, Inc. has a 1-year low of $146.10 and a 1-year high of $183.41. The firm has a market capitalization of $200.68 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.94 and a beta of 0.54. The firm’s 50-day moving average price is $159.04 and its 200-day moving average price is $167.12. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

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 $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.71%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

PepsiCo 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.