Franklin Parlapiano Turner & Welch LLC Acquires 1,201 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Franklin Parlapiano Turner & Welch LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,527 shares of the company’s stock after buying an additional 1,201 shares during the period. PepsiCo comprises about 1.9% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 22nd largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in PepsiCo were worth $6,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the period. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the period. Finally, IHT Wealth Management LLC increased its stake in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PEP shares. Barclays lowered their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo Stock Performance

Shares of PEP opened at $150.37 on Thursday. 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 50 day moving average price of $153.68 and a two-hundred day moving average price of $165.17. The firm has a market capitalization of $206.31 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.60%. PepsiCo’s payout ratio 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.