PepsiCo, Inc. $PEP Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 36.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,052 shares of the company’s stock after selling 20,871 shares during the period. E. Ohman J or Asset Management AB’s holdings in PepsiCo were worth $5,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Norges Bank acquired a new position in PepsiCo in the second quarter worth about $2,330,594,000. Laurel Wealth Advisors LLC raised its stake in PepsiCo by 14,420.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after buying an additional 3,863,893 shares in the last quarter. AQR Capital Management LLC lifted its holdings in PepsiCo by 120.7% during the 3rd quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock worth $830,902,000 after buying an additional 3,235,726 shares during the last quarter. First Trust Advisors LP grew its position in shares of PepsiCo by 112.6% in the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock worth $533,452,000 after acquiring an additional 2,139,847 shares in the last quarter. Finally, Amundi increased its holdings in shares of PepsiCo by 30.0% in the 3rd quarter. Amundi now owns 8,641,588 shares of the company’s stock valued at $1,207,230,000 after acquiring an additional 1,995,362 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore raised their price objective on PepsiCo from $152.00 to $165.00 in a research note on Wednesday, February 4th. Piper Sandler increased their target price on shares of PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Barclays raised their price target on shares of PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Finally, Wells Fargo & Company increased their price objective on shares of PepsiCo from $154.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $169.00.

PepsiCo Trading Up 0.6%

Shares of NASDAQ:PEP opened at $150.88 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 quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The company has a market cap of $206.20 billion, a PE ratio of 25.15, a P/E/G ratio of 2.88 and a beta of 0.39. The company’s 50-day moving average price is $158.41 and its 200 day moving average price is $149.93.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, March 6th. PepsiCo’s dividend payout ratio (DPR) is currently 94.83%.

PepsiCo declared that its board has initiated a stock buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.