Handelsbanken Fonder AB Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)

Handelsbanken Fonder AB grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 571,653 shares of the company’s stock after purchasing an additional 47,853 shares during the period. Handelsbanken Fonder AB’s holdings in PepsiCo were worth $86,926,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter worth approximately $28,000. Collier Financial acquired a new position in shares of PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter valued at $31,000. Finally, Rakuten Securities Inc. raised its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEP. Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. TD Cowen dropped their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Up 1.2 %

PEP stock opened at $145.81 on Thursday. The business’s 50 day moving average is $149.16 and its 200-day moving average is $162.60. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market cap of $199.98 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.97 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

PepsiCo Profile

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.