TrueMark Investments LLC Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)

TrueMark Investments LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,825 shares of the company's stock after buying an additional 10,519 shares during the period. PepsiCo comprises 1.5% of TrueMark Investments LLC's investment portfolio, making the stock its 23rd largest position. TrueMark Investments LLC's holdings in PepsiCo were worth $4,687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company's stock worth $259,350,000 after purchasing an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company's stock worth $6,323,000 after buying an additional 4,712 shares during the period. Janus Henderson Group PLC boosted its position in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company's stock valued at $59,549,000 after buying an additional 34,633 shares during the period. IHT Wealth Management LLC increased its position in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company's stock valued at $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD raised its stake in shares of PepsiCo by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company's stock valued at $188,031,000 after acquiring an additional 61,541 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have weighed in on PEP shares. Morgan Stanley dropped their price objective on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target for the company. StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $169.88.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ:PEP traded down $0.40 during trading on Friday, reaching $149.27. 8,549,260 shares of the stock traded hands, compared to its average volume of 5,875,691. The stock has a market cap of $204.72 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a 50-day moving average of $149.25 and a two-hundred day moving average of $158.03. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Friday, March 7th. PepsiCo's payout ratio is presently 77.99%.

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.