Investors Increase Stakes in PepsiCo; Wells Fargo and Bank of America Cut Targets
State Street increased its PepsiCo stake to 59,499,819 shares after buying more in the last quarter, while Auto Owners Insurance raised its holding to 49,252,907 shares. Geode and Vanguard also added shares. Wells Fargo reduced its PepsiCo price target to $140, and Bank of America lowered its target to $164, both with neutral rating changes.