The Manufacturers Life Insurance Company has reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1% during the fourth quarter, as revealed in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 8,174 shares during the quarter, the firm now owns 825,814 shares of PepsiCo stock, representing 0.06% of the company’s total worth, valued at $125,573,000.
Other institutional investors have also adjusted their positions in PEP. New stakes were acquired by Collier Financial, WealthTrak Capital Management LLC, Creative Capital Management Investments LLC, Prudent Man Investment Management Inc., and Summit Securities Group LLC, with investments ranging from $28,000 to $33,000.
Currently, institutional investors and hedge funds collectively own 73.07% of PepsiCo’s stock. Recent analyst ratings for PepsiCo include a ‘hold’ rating from TD Cowen with a $160 target price, a ‘sector perform’ rating from Royal Bank of Canada with a $163 target price, and ‘buy’ ratings from Citigroup and HSBC with target prices of $160 and $170, respectively. The consensus rating among analysts is ‘Hold’, with an average target price of $160.69.
PepsiCo’s stock opened at $133.76 on Tuesday, with a 50-day simple moving average of $147.46 and a 200-day simple moving average of $153.37. The company has a market capitalization of $183.43 billion and a price-to-earnings ratio of 19.25. PepsiCo recently reported quarterly earnings of $1.48 per share, slightly missing the consensus estimate of $1.49.
The company has declared a quarterly dividend of $1.355 per share, representing an annualized dividend of $5.42 and a yield of 4.05%. PepsiCo operates globally, manufacturing, marketing, and distributing various beverages and convenient foods through seven business segments.
