PepsiCo, Inc. $PEP Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 21.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,194,433 shares of the company’s stock after selling 2,182,693 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.60% of PepsiCo worth $1,150,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC raised its position in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after buying an additional 207 shares during the period. Finally, Frazier Financial Advisors LLC lifted its holdings in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. Evercore ISI raised their target price on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Rothschild & Co Redburn boosted their price objective on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Piper Sandler lifted their price target on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, Jefferies Financial Group upped their price objective on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $161.32.

PepsiCo Price Performance

Shares of PEP opened at $146.32 on Friday. The company has a market cap of $200.07 billion, a P/E ratio of 27.82, a PEG ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm’s 50 day moving average price is $145.62 and its 200 day moving average price is $144.67.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.