PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,868 shares of the company’s stock after selling 402 shares during the quarter. PepsiCo comprises approximately 1.6% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 29th biggest holding. Renaissance Investment Group LLC’s holdings in PepsiCo were worth $7,735,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PEP. International Assets Investment Management LLC boosted its stake in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp increased its holdings 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 worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Swedbank AB boosted its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% in 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 buying an additional 1,125,059 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEP shares. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $178.60.

PepsiCo Stock Performance

Shares of PEP stock opened at $148.25 on Monday. The stock has a market cap of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a fifty day moving average price of $155.37 and a two-hundred day moving average price of $165.86. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Dividend Announcement

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

About PepsiCo

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.