144,829 Shares in PepsiCo, Inc. (NASDAQ:PEP) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 144,829 shares of the company’s stock, valued at approximately $22,023,000. PepsiCo makes up about 0.7% of Avanza Fonder AB’s investment portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $180.27.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.03 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $203.09 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a 50 day moving average of $156.06 and a 200 day moving average of $166.05.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.