Chesley Taft & Associates LLC Has $36.97 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Chesley Taft & Associates LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,131 shares of the company’s stock after selling 124 shares during the period. PepsiCo makes up about 1.7% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 13th biggest position. Chesley Taft & Associates LLC’s holdings in PepsiCo were worth $36,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in PepsiCo by 8.5% in the second quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock valued at $20,040,000 after purchasing an additional 9,567 shares during the last quarter. Certified Advisory Corp grew its position in shares of PepsiCo by 4.0% during the 2nd quarter. Certified Advisory Corp now owns 2,117 shares of the company’s stock worth $349,000 after buying an additional 82 shares during the period. Public Sector Pension Investment Board increased its stake in shares of PepsiCo by 73.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 52,836 shares of the company’s stock valued at $8,714,000 after acquiring an additional 22,339 shares during the last quarter. Resources Management Corp CT ADV boosted its stake in PepsiCo by 0.7% during the 2nd quarter. Resources Management Corp CT ADV now owns 73,611 shares of the company’s stock worth $12,141,000 after acquiring an additional 521 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC grew its holdings in PepsiCo by 7.7% during the second quarter. Mill Creek Capital Advisors LLC now owns 9,252 shares of the company’s stock valued at $1,526,000 after purchasing an additional 658 shares during the period. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group decreased their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada lowered their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $178.60.

PepsiCo Stock Performance

PEP opened at $148.55 on Wednesday. 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 business’s 50-day simple moving average is $155.05 and its 200 day simple moving average is $165.76. The firm has a market capitalization of $203.81 billion, a PE ratio of 21.91, a PEG ratio of 2.74 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 Announces Dividend

The company also recently announced 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 was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo 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.