Community Trust & Investment Co. Has $724,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Community Trust & Investment Co. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,761 shares of the company’s stock after selling 363 shares during the quarter. Community Trust & Investment Co.’s holdings in PepsiCo were worth $724,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the period. Janus Henderson Group PLC grew its stake in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $9,589,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, TD Cowen dropped their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Performance

PEP opened at $144.95 on Wednesday. The stock has a market cap of $198.87 billion, a PE ratio of 21.38, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock’s 50 day simple moving average is $156.46 and its 200-day simple moving average is $166.20. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 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.