CoreFirst Bank & Trust Purchases New Shares in PepsiCo, Inc. (NASDAQ:PEP)

CoreFirst Bank & Trust acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,319 shares of the company’s stock, valued at approximately $1,113,000.

Other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC boosted its holdings in shares of PepsiCo by 2.0% in the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after acquiring an additional 90 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its position in PepsiCo by 4.3% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 3,370 shares of the company’s stock worth $573,000 after purchasing an additional 140 shares during the period. Larson Financial Group LLC raised its stake in shares of PepsiCo by 37.1% during the 3rd quarter. Larson Financial Group LLC now owns 14,463 shares of the company’s stock worth $2,459,000 after buying an additional 3,910 shares in the last quarter. Cahill Financial Advisors Inc. boosted its stake in shares of PepsiCo by 14.0% in the third quarter. Cahill Financial Advisors Inc. now owns 1,478 shares of the company’s stock valued at $251,000 after buying an additional 181 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in PepsiCo by 5.7% during the third quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock worth $1,335,618,000 after acquiring an additional 422,080 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.45 on Tuesday. The company has a market cap of $200.86 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.09 and a beta of 0.52. The business has a fifty day simple moving average of $149.08 and a 200-day simple moving average of $158.73. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, Barclays downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.