My Legacy Advisors LLC Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

My Legacy Advisors LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,928 shares of the company’s stock after selling 87 shares during the quarter. My Legacy Advisors LLC’s holdings in PepsiCo were worth $1,003,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp increased its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. lifted its position in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEP shares. Barclays cut their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen decreased 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. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.60.

PepsiCo Price Performance

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

PepsiCo Announces Dividend

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

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.