Truist Financial Corp Reduces Holdings in PepsiCo, Inc.

Truist Financial Corp has reduced its investment in PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the fourth quarter, based on its latest Form 13F filing with the SEC. After selling off 141,194 shares in this period, the fund now holds 1,301,929 shares of the beverage giant's stock. As of the end of the reporting period, Truist Financial's stake in PepsiCo represents approximately 0.09% of the total shares, valued at around $197.97 million.

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In addition to Truist's actions, other hedge funds have also been adjusting their positions in PepsiCo recently. For example, State Street Corp increased its stake by 5.1% in the third quarter, now owning 57,268,030 shares valued at $9.74 billion after acquiring an extra 2,775,679 shares. Geode Capital Management LLC also boosted its holdings by 1.8%, bringing its total to 30,497,268 shares worth approximately $5.17 billion after purchasing another 543,558 shares in the same timeframe. Charles Schwab Investment Management Inc. raised its ownership by 5.6%, now holding 21,360,850 shares valued at $3.63 billion, while Franklin Resources Inc. increased its position by a significant 21.1%, owning 13,021,316 shares valued at $2.29 billion after an additional purchase of 2,264,445 shares. Lastly, Wellington Management Group LLP saw a 2.7% increase in their stake, now owning 12,098,551 shares worth about $2.06 billion. As a result, approximately 73.07% of PepsiCo's stock is currently owned by institutional investors.

Analysts Set New Price Targets

PepsiCo's stock has been under the watchful eye of various equity analysts. Recently, Deutsche Bank Aktiengesellschaft lowered its target price from $184.00 to $178.00, while also giving the company a "buy" rating. Morgan Stanley adjusted their target from $185.00 to $168.00 and maintained an "equal weight" rating. BNP Paribas and Barclays have also cut their price targets for PepsiCo, with BNP Paribas setting a target of $160.00 and Barclays opting for $153.00, both while maintaining neutral or overweight ratings. JPMorgan Chase & Co. decreased their target from $183.00 to $165.00 with a neutral rating as well. Currently, MarketBeat reports that one research analyst rates the stock as a sell, twelve analysts give it a hold rating, and eight have assigned it a buy rating, resulting in a consensus rating of "Hold" and an average price target of $171.47.

• High-Yield Dividend King PepsiCo Offers Value Too Good to Ignore

Check Out Our Latest Stock Analysis on PepsiCo

PepsiCo Stock Performance

As of Monday, shares of PepsiCo opened at $143.39. The company boasts a market capitalization of $196.66 billion, a price-to-earnings (P/E) ratio of 20.63, and a price-to-earnings growth (P/E/G) ratio of 2.89, with a beta of 0.54. The firm’s quick ratio stands at 0.70, its current ratio is 0.82, and it has a debt-to-equity ratio of 2.05. Over the past year, PepsiCo's stock reached a low of $141.51 and a high of $183.41. Its 50-day moving average is $149.80, while its 200-day moving average is $163.06.

• PepsiCo: 53 Years of Dividend Growth and Still Going Strong

Recently, on February 4th, PepsiCo reported its quarterly earnings, achieving an earnings per share (EPS) of $1.96. This surpassed analysts' expectations, which were set at $1.94. With a net margin of 10.43% and a return on equity of 58.87%, the firm's revenue for that quarter was approximately $27.78 billion, narrowly missing the consensus estimate of $27.89 billion. Comparatively, last year's EPS for the same period was $1.78, showing a slight decline of 0.2% in revenue year-over-year. Research forecasts suggest that PepsiCo will post an EPS of 8.34 for the current fiscal year.

PepsiCo Dividend Announcement

In addition, the company has recently announced a quarterly dividend to be paid on Monday, March 31st. Shareholders who hold stock by Friday, March 7th, will receive a dividend payout of $1.355. The ex-dividend date is set for the same date, March 7th. This translates to an annualized dividend of $5.42, representing a yield of 3.78%. Currently, PepsiCo's dividend payout ratio stands at 77.99%.

PepsiCo Profile

(Free Report)

PepsiCo, Inc. is actively involved in the manufacture, marketing, distribution, and sale of various beverages and convenient food products globally. The company operates through seven distinct segments, which include Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, the Middle East, and South Asia; as well as the Asia Pacific, Australia, and New Zealand areas.

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This article was generated using automated technology and financial data to provide readers with timely information. Please direct any questions or feedback to the editorial team.

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