Handelsbanken Fonder AB trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,569 shares of the company’s stock after selling 3,783 shares during the period. Handelsbanken Fonder AB’s holdings in PepsiCo were worth $76,434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Brighton Jones LLC lifted its stake in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of PepsiCo in the first quarter worth about $251,000. Sivia Capital Partners LLC increased its position in PepsiCo by 138.5% during the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after purchasing an additional 3,790 shares during the last quarter. Schnieders Capital Management LLC. increased its position in PepsiCo by 10.1% during the second quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock worth $5,039,000 after purchasing an additional 3,502 shares during the last quarter. Finally, Sei Investments Co. increased its position in PepsiCo by 45.5% during the second quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock worth $70,789,000 after purchasing an additional 167,707 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. BNP Paribas Exane raised their price objective on shares of PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Royal Bank Of Canada cut their price objective on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Piper Sandler lifted their price target on shares of PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Finally, TD Cowen lifted their price target on shares of PepsiCo from $162.00 to $165.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $170.11.
PepsiCo Trading Down 0.0%
Shares of PEP stock opened at $149.06 on Tuesday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The company has a 50 day moving average price of $155.02 and a 200 day moving average price of $152.41. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The stock has a market capitalization of $203.73 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, June 5th. PepsiCo’s payout ratio is presently 89.32%.
PepsiCo announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
More PepsiCo News
Here are the key news stories impacting PepsiCo this week:
- Positive Sentiment: Some market coverage points to PepsiCo as a possible momentum winner in consumer staples, suggesting investors are still rotating into defensive, dividend-paying names. Pepsi, Apple, and 9 More AI Momentum Trade Winners. Plus 4 Losers to Dump.
- Positive Sentiment: PepsiCo continues to screen as an attractive income stock, with recent dividend-focused articles reinforcing its status as a long-running dividend grower. From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Neutral Sentiment: Several recent pieces argue PepsiCo is fairly priced and not a bargain versus peers, which suggests limited near-term upside unless fundamentals improve further. PepsiCo: Fairly Priced, But Not A Deal Compared To Peers
- Negative Sentiment: Wells Fargo cut its price target on PepsiCo to $160 from $165 and kept an equal-weight rating, a sign that analysts see more limited near-term appreciation. Wells Fargo adjusts price target on PepsiCo to $160 from $165, maintains equalweight rating
- Negative Sentiment: One recent article noted PepsiCo has pulled back over the past week despite a strong first-quarter earnings report, which may be weighing on sentiment. PepsiCo’s Next Big Rally Could Be Just Getting Started
PepsiCo Profile
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.
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