PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 204,510 shares of the company’s stock after selling 13,098 shares during the quarter. PepsiCo comprises 0.9% of MassMutual Private Wealth & Trust FSB’s investment portfolio, making the stock its 27th biggest position. MassMutual Private Wealth & Trust FSB’s holdings in PepsiCo were worth $31,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. grew its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEP shares. Barclays lowered their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group decreased their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.60.

PepsiCo Price Performance

PEP opened at $148.25 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $155.37 and its 200 day moving average price is $165.86. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.