MassMutual Private Wealth & Trust FSB Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

MassMutual Private Wealth & Trust FSB lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,510 shares of the company's stock after selling 13,098 shares during the quarter. PepsiCo comprises about 0.9% of MassMutual Private Wealth & Trust FSB's holdings, making the stock its 27th biggest holding. MassMutual Private Wealth & Trust FSB's holdings in PepsiCo were worth $31,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company's stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. State Street Corp lifted its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. increased its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB lifted its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock worth $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on PEP shares. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $178.60.

PepsiCo Trading Up 1.2 %

NASDAQ PEP traded up $1.71 during mid-day trading on Monday, reaching $148.25. 7,213,692 shares of the stock were exchanged, compared to its average volume of 5,895,834. The stock has a market capitalization of $203.40 billion, a PE ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business's fifty day simple moving average is $155.37 and its 200 day simple moving average is $165.86.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid 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 payout ratio is currently 79.94%.

PepsiCo 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.