BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in PepsiCo, Inc. $PEP

BI Asset Management Fondsmaeglerselskab A S lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 60.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 310,932 shares of the company’s stock after buying an additional 116,822 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PepsiCo were worth $44,625,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cypress Capital Management LLC WY lifted its position in shares of PepsiCo by 8.3% during the fourth quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock worth $121,000 after purchasing an additional 64 shares in the last quarter. United Bank raised its holdings in PepsiCo by 3.9% in the fourth quarter. United Bank now owns 1,717 shares of the company’s stock valued at $246,000 after acquiring an additional 65 shares in the last quarter. Koa Wealth Management LLC raised its holdings in PepsiCo by 0.9% in the fourth quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock valued at $1,149,000 after acquiring an additional 68 shares in the last quarter. Tiemann Investment Advisors LLC raised its holdings in PepsiCo by 4.0% in the third quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock valued at $254,000 after acquiring an additional 70 shares in the last quarter. Finally, Binnacle Investments Inc raised its holdings in PepsiCo by 33.2% in the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $141.92 on Friday. The firm’s fifty day moving average price is $152.21 and its 200 day moving average price is $152.51. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a market cap of $193.97 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.58 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating 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 firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same period last year, the firm posted $1.48 EPS. PepsiCo’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. PepsiCo’s dividend payout ratio is currently 89.32%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEP. Piper Sandler raised their target price on shares of PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. TD Cowen raised their price objective on shares of PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Evercore raised their price objective on shares of PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $169.58.

About PepsiCo

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.