Montecito Bank & Trust Purchases Shares of 9,987 PepsiCo, Inc. $PEP

Montecito Bank & Trust purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,987 shares of the company’s stock, valued at approximately $1,403,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo in the first quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new stake in PepsiCo in the 2nd quarter worth about $27,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC grew its position in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Frazier Financial Advisors LLC increased its holdings in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. UBS Group reiterated a “buy” rating and issued a $172.00 price target on shares of PepsiCo in a research note on Tuesday, December 9th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Tuesday, October 21st. Piper Sandler raised their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Evercore ISI upped their price objective on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.75.

PepsiCo Stock Performance

NASDAQ:PEP opened at $150.08 on Thursday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock’s 50-day simple moving average is $147.94 and its 200 day simple moving average is $142.69. The firm has a market capitalization of $205.21 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 5.19 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

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.