BI Asset Management Fondsmaeglerselskab A S grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 33.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 252,641 shares of the company's stock after purchasing an additional 63,174 shares during the quarter. PepsiCo makes up 2.1% of BI Asset Management Fondsmaeglerselskab A S's holdings, making the stock its 8th biggest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in PepsiCo were worth $41,246,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. SouthState Corp increased its holdings in PepsiCo by 1.5% in the third quarter. SouthState Corp now owns 53,034 shares of the company's stock worth $8,657,000 after purchasing an additional 795 shares in the last quarter. Arvest Trust Co. N A grew its holdings in PepsiCo by 15.2% during the third quarter. Arvest Trust Co. N A now owns 1,408 shares of the company's stock worth $230,000 after buying an additional 186 shares in the last quarter. Jarislowsky Fraser Ltd raised its holdings in shares of PepsiCo by 0.5% in the third quarter. Jarislowsky Fraser Ltd now owns 1,106,448 shares of the company's stock valued at $180,638,000 after purchasing an additional 5,437 shares during the last quarter. NTV Asset Management LLC raised its holdings in shares of PepsiCo by 1.2% in the third quarter. NTV Asset Management LLC now owns 40,392 shares of the company's stock valued at $6,594,000 after purchasing an additional 467 shares during the last quarter. Finally, Intrepid Financial Planning Group LLC raised its holdings in shares of PepsiCo by 7.6% in the third quarter. Intrepid Financial Planning Group LLC now owns 1,410 shares of the company's stock valued at $230,000 after purchasing an additional 100 shares during the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
PEP has been the subject of several research reports. Argus increased their price target on shares of PepsiCo from $195.00 to $206.00 in a research report on Wednesday, December 7th. Wedbush raised their price objective on shares of PepsiCo from $185.00 to $190.00 in a research report on Thursday, October 13th. Royal Bank of Canada raised their target price on shares of PepsiCo from $165.00 to $170.00 and gave the company a "sector perform" rating in a research note on Thursday, October 13th. Credit Suisse Group decreased their price target on shares of PepsiCo from $173.00 to $172.00 and set a "neutral" rating on the stock in a research note on Monday, October 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $188.00 to $186.00 and set an "overweight" rating on the stock in a report on Friday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Moderate Buy" and an average target price of $183.36.
PepsiCo Stock Performance
Shares of NASDAQ PEP traded down $0.86 during midday trading on Friday, hitting $169.36. 247,270 shares of the company's stock traded hands, compared to its average volume of 4,251,732. PepsiCo, Inc. has a 1 year low of $153.37 and a 1 year high of $186.84. The stock has a market capitalization of $233.33 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.08 and a beta of 0.57. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.72 and a current ratio of 0.92. The firm has a fifty day moving average of $180.01 and a 200 day moving average of $175.94.
PepsiCo Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, December 1st. PepsiCo's payout ratio is currently 65.81%.
PepsiCo Company Profile
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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).
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