Community Bank N.A. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,218 shares of the company’s stock after selling 622 shares during the period. PepsiCo makes up about 1.5% of Community Bank N.A.’s investment portfolio, making the stock its 18th largest holding. Community Bank N.A.’s holdings in PepsiCo were worth $7,707,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Personal Wealth Partners bought a new stake in PepsiCo during the second quarter valued at about $25,000. Krane Funds Advisors LLC acquired a new position in shares of PepsiCo during the second quarter valued at about $25,000. Evolution Wealth Advisors LLC acquired a new position in shares of PepsiCo during the second quarter valued at about $27,000. Financial Advantage Inc. acquired a new position in shares of PepsiCo during the second quarter valued at about $28,000. Finally, Vista Private Wealth Partners. LLC acquired a new position in shares of PepsiCo during the third quarter valued at about $36,000. 71.66% of the stock is currently owned by institutional investors.
PEP opened at $137.89 on Friday. PepsiCo, Inc. has a one year low of $105.03 and a one year high of $140.45. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. The company’s 50 day simple moving average is $136.66 and its 200-day simple moving average is $131.64. The stock has a market capitalization of $190.56 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.55 and a beta of 0.56.
A number of research analysts have recently commented on PEP shares. Deutsche Bank upped their price objective on shares of PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. Cowen increased their price target on shares of PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. UBS Group increased their price target on shares of PepsiCo from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. BMO Capital Markets reissued a “market perform” rating and issued a $133.00 price target (up previously from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. Finally, Atlantic Securities began coverage on shares of PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $135.53.
In other PepsiCo news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by company insiders.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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