M. Kraus & Co increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 50,152 shares of the company’s stock after purchasing an additional 107 shares during the period. PepsiCo makes up approximately 3.1% of M. Kraus & Co’s holdings, making the stock its 15th largest position. M. Kraus & Co’s holdings in PepsiCo were worth $7,438,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PEP. Two Sigma Advisers LP increased its stake in PepsiCo by 211.7% during the second quarter. Two Sigma Advisers LP now owns 2,133,685 shares of the company’s stock valued at $282,201,000 after acquiring an additional 1,449,200 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of PepsiCo by 50.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,937,391 shares of the company’s stock valued at $257,555,000 after acquiring an additional 980,642 shares during the last quarter. Morgan Stanley lifted its holdings in shares of PepsiCo by 6.5% in the 3rd quarter. Morgan Stanley now owns 11,805,248 shares of the company’s stock valued at $1,636,208,000 after acquiring an additional 720,076 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in PepsiCo by 7.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,277,512 shares of the company’s stock worth $1,147,262,000 after purchasing an additional 575,742 shares during the period. Finally, Bradley Foster & Sargent Inc. CT purchased a new stake in PepsiCo in the 3rd quarter worth about $76,417,000. 70.16% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on PEP. Royal Bank of Canada lowered shares of PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 price objective on the stock. in a research report on Monday, January 4th. They noted that the move was a valuation call. BidaskClub lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Truist increased their price objective on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $148.00 to $169.00 in a research report on Monday, October 12th. Finally, Wells Fargo & Company started coverage on shares of PepsiCo in a research report on Monday, December 7th. They issued an “equal weight” rating and a $157.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. PepsiCo presently has a consensus rating of “Buy” and an average price target of $144.88.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 7th. Investors of record on Friday, December 4th were issued a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, December 3rd. PepsiCo’s payout ratio is 73.96%.
In related news, CEO Kirk Tanner sold 12,500 shares of PepsiCo stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $136.81, for a total transaction of $1,710,125.00. Following the transaction, the chief executive officer now directly owns 95,645 shares of the company’s stock, valued at $13,085,192.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.
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