Norges Bank Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Norges Bank acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,950,577 shares of the company’s stock, valued at approximately $2,729,565,000. Norges Bank owned about 1.31% of PepsiCo at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Collier Financial purchased a new position in shares of PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo during the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $31,000. Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo during the fourth quarter worth about $34,000. Finally, Human Investing LLC acquired a new position in PepsiCo during the 4th quarter worth $39,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $148.64 on Thursday. The company has a market capitalization of $203.86 billion, a PE ratio of 21.39, a P/E/G ratio of 3.09 and a beta of 0.52. The firm has a fifty day simple moving average of $149.16 and a 200 day simple moving average of $158.43. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective for the company. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley reduced their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $169.88.

PepsiCo Company 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.