Fifth Third Bancorp Sells 32,347 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fifth Third Bancorp trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 631,065 shares of the company’s stock after selling 32,347 shares during the period. Fifth Third Bancorp’s holdings in PepsiCo were worth $95,960,000 as of its most recent filing with the Securities & Exchange Commission.

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

PepsiCo Price Performance

Shares of PEP opened at $149.12 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $204.59 billion, a P/E ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. The firm’s 50 day moving average price is $154.07 and its 200 day moving average price is $165.40.

PepsiCo Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.00.

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.