Truist Financial Corp Purchases 108,826 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Truist Financial Corp lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,550,083 shares of the company's stock after purchasing an additional 108,826 shares during the quarter. PepsiCo makes up about 0.7% of Truist Financial Corp's investment portfolio, making the stock its 27th largest position. Truist Financial Corp owned 0.19% of PepsiCo worth $433,106,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Amplius Wealth Advisors LLC raised its position in PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company's stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Darwin Wealth Management LLC lifted its stake in PepsiCo by 2.7% in the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company's stock valued at $397,000 after purchasing an additional 61 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company's stock worth $411,000 after purchasing an additional 61 shares during the period. Beacon Financial Advisory LLC increased its position in PepsiCo by 3.1% during the third quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company's stock worth $362,000 after buying an additional 65 shares during the last quarter. Finally, Pathway Financial Advisors LLC lifted its position in shares of PepsiCo by 4.5% in the third quarter. Pathway Financial Advisors LLC now owns 1,506 shares of the company's stock valued at $255,000 after buying an additional 65 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of PepsiCo from $199.00 to $209.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Morgan Stanley upgraded PepsiCo from an "equal weight" rating to an "overweight" rating and set a $190.00 price objective for the company in a report on Monday, March 18th. StockNews.com lowered PepsiCo from a "buy" rating to a "hold" rating in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on PepsiCo from $181.00 to $184.00 and gave the company a "hold" rating in a research note on Friday, February 9th. Finally, Argus cut PepsiCo from a "buy" rating to a "hold" rating in a research report on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $187.42.

PepsiCo Price Performance

Shares of PEP traded down $1.10 during mid-day trading on Friday, reaching $175.58. The company had a trading volume of 4,471,941 shares, compared to its average volume of 5,855,305. The company's 50 day simple moving average is $169.40 and its 200 day simple moving average is $167.86. The company has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.80 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion during the quarter, compared to analysts' expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. Analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. PepsiCo's payout ratio is 76.09%.

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.

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