PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,301,929 shares of the company’s stock after selling 141,194 shares during the quarter. Truist Financial Corp’s holdings in PepsiCo were worth $197,971,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in shares of PepsiCo by 2.2% during the fourth quarter. CIBC Asset Management Inc now owns 546,123 shares of the company’s stock worth $83,043,000 after purchasing an additional 11,516 shares during the period. Human Investing LLC purchased a new position in PepsiCo during the 4th quarter worth $39,000. NTV Asset Management LLC lifted its stake in shares of PepsiCo by 3.1% in the 4th quarter. NTV Asset Management LLC now owns 37,440 shares of the company’s stock worth $5,693,000 after acquiring an additional 1,127 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of PepsiCo by 0.8% in the fourth quarter. Sanctuary Advisors LLC now owns 264,331 shares of the company’s stock valued at $40,152,000 after acquiring an additional 2,064 shares in the last quarter. Finally, KLCM Advisors Inc. increased its stake in shares of PepsiCo by 252.9% during the fourth quarter. KLCM Advisors Inc. now owns 21,437 shares of the company’s stock worth $3,260,000 after acquiring an additional 15,362 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $143.39 on Monday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a fifty day moving average of $149.80 and a two-hundred day moving average of $163.06. The company has a market capitalization of $196.66 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.78%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Wells Fargo & Company decreased their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price on the stock. Finally, Evercore ISI cut their price target on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $171.47.

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.