Sanibel Captiva Trust Company Inc. Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sanibel Captiva Trust Company Inc. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,794 shares of the company’s stock after selling 7,380 shares during the period. PepsiCo accounts for 0.9% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 28th largest position. Sanibel Captiva Trust Company Inc.’s holdings in PepsiCo were worth $28,252,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Cross Staff Investments Inc boosted its stake in PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. grew its holdings in PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc raised its position in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC boosted its position in shares of PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $178.60.

PepsiCo Stock Up 1.2 %

Shares of PepsiCo stock opened at $148.25 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average price of $155.37 and a two-hundred day moving average price of $165.82. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.