Truist Financial Corp Boosts Position in PepsiCo, Inc. (NASDAQ:PEP)

Truist Financial Corp lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,550,083 shares of the company’s stock after buying an additional 108,826 shares during the quarter. PepsiCo makes up approximately 0.7% of Truist Financial Corp’s portfolio, making the stock its 27th biggest holding. Truist Financial Corp’s holdings in PepsiCo were worth $433,106,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after buying an additional 3,026,611 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of PepsiCo during the third quarter worth about $329,179,000. Flossbach Von Storch AG increased its position in shares of PepsiCo by 121.4% in the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after purchasing an additional 1,495,586 shares during the last quarter. California Public Employees Retirement System raised its stake in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in PepsiCo by 68.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after purchasing an additional 1,183,371 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.6 %

Shares of PepsiCo stock traded down $1.10 during midday trading on Friday, reaching $175.58. 4,471,941 shares of the company’s stock traded hands, compared to its average volume of 5,855,305. The stock has a 50 day moving average of $169.40 and a 200-day moving average of $167.86. The company has a market cap of $241.39 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.88%. PepsiCo’s dividend payout ratio is currently 76.09%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEP shares. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Barclays lifted their price target on PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Company 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.