PepsiCo is one of 19 long‐term growth companies expected to announce a mid‐single‐digit increase in its annual dividend in early February. The company’s projected increase of 3–5% reflects relatively flat earnings per share growth over the past year and a payout ratio that has approached 110%. This modest rise in the quarterly payout follows similar conservative hikes across the peer group, contrasting with only a few companies delivering double‐digit dividend growth under current earnings headwinds.

During the third quarter, Donaldson Capital Management LLC boosted its position in PepsiCo by 1.9%, acquiring an additional 3,850 shares to bring its total holdings to 202,258 shares valued at $28.4 million. Several other asset managers also initiated or expanded stakes: Evolution Wealth Management and JCIC Asset Management each purchased new positions of roughly 180 shares in the second and third quarters respectively, while Vermillion & White Wealth Management and Frazier Financial Advisors more than doubled their holdings through the acquisition of 121 and 122 additional shares. Overall, institutional investors and hedge funds now own just over 73% of the company’s share base.

In recent months, research firms have maintained a broadly neutral stance on PepsiCo. UBS Group reiterated a buy rating, while Piper Sandler and HSBC issued overweight and hold ratings respectively. Rothschild & Co Redburn remains the sole sell recommendation among twelve active analysts. Taken together, the consensus view is a hold rating, supported by a majority of buy and hold assessments and a consensus price target of approximately $159 per share.