Citizens Business Bank Invests $324,000 in PepsiCo, Inc. (NASDAQ:PEP)

Citizens Business Bank bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,983 shares of the company’s stock, valued at approximately $324,000.

Several other large investors have also added to or reduced their stakes in PEP. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock valued at $2,555,040,000 after buying an additional 1,427,405 shares during the period. Legal & General Group Plc increased its stake in shares of PepsiCo by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 10,875,847 shares of the company’s stock valued at $1,812,570,000 after acquiring an additional 374,472 shares in the last quarter. FMR LLC increased its stake in shares of PepsiCo by 10.0% in the 2nd quarter. FMR LLC now owns 9,947,607 shares of the company’s stock valued at $1,657,869,000 after acquiring an additional 902,261 shares in the last quarter. Deutsche Bank AG increased its stake in PepsiCo by 10.5% during the 2nd quarter. Deutsche Bank AG now owns 9,235,919 shares of the company’s stock valued at $1,539,254,000 after purchasing an additional 875,296 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in PepsiCo by 6.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,499,034 shares of the company’s stock valued at $749,809,000 after purchasing an additional 282,600 shares in the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marie T. Gallagher sold 5,558 shares of PepsiCo stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $180.01, for a total value of $1,000,495.58. Following the completion of the sale, the senior vice president now directly owns 41,195 shares in the company, valued at approximately $7,415,511.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other PepsiCo news, CEO Paula Santilli sold 2,787 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $179.63, for a total value of $500,628.81. Following the transaction, the chief executive officer now directly owns 59,997 shares of the company’s stock, valued at $10,777,261.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 5,558 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $180.01, for a total value of $1,000,495.58. Following the completion of the transaction, the senior vice president now directly owns 41,195 shares in the company, valued at $7,415,511.95. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

PepsiCo Price Performance

PEP opened at $169.88 on Monday. The stock has a fifty day simple moving average of $180.62 and a two-hundred day simple moving average of $176.09. The company has a current ratio of 0.92, a quick ratio of 0.72 and a debt-to-equity ratio of 1.89. The company has a market cap of $234.05 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. PepsiCo, Inc. has a 12-month low of $153.37 and a 12-month high of $186.84.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were issued a dividend of $1.15 per share. The ex-dividend date was Thursday, December 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.71%. PepsiCo’s payout ratio is presently 65.81%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEP. Argus boosted their price target on shares of PepsiCo from $195.00 to $206.00 in a report on Wednesday, December 7th. Barclays upped their price objective on shares of PepsiCo from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, October 14th. Redburn Partners began coverage on shares of PepsiCo in a research report on Friday, November 4th. They issued a “sell” rating and a $141.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $181.00 to $186.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $188.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.36.

About PepsiCo

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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