Chesley Taft & Associates LLC Has $36.97 Million Stock Holdings 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 the company in its most recent 13F filing with the Securities & Exchange Commission. 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 largest position. Chesley Taft & Associates LLC’s holdings in PepsiCo were worth $36,971,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. State Street Corp increased its stake in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC grew its holdings in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc lifted its position in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Franklin Resources Inc. boosted its stake in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP stock opened at $148.55 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $203.81 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54. The firm’s 50 day moving average is $155.05 and its 200-day moving average is $165.76. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders 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 (DPR) is currently 79.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.60.

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.