Handelsbanken Fonder AB Trims Stock Position in PepsiCo, Inc. $PEP

Handelsbanken Fonder AB lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 532,569 shares of the company’s stock after selling 3,783 shares during the quarter. Handelsbanken Fonder AB’s holdings in PepsiCo were worth $76,434,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. JCIC Asset Management Inc. purchased a new stake in PepsiCo in the 3rd quarter valued at $27,000. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo in the 4th quarter valued at $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo in the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at $33,000. Finally, Strategic Advocates LLC purchased a new stake in PepsiCo in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEP. The Goldman Sachs Group boosted their price objective on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Morgan Stanley boosted their price objective on shares of PepsiCo from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada dropped their price objective on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 9th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $165.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, HSBC upped their price target on shares of PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $170.11.

PepsiCo Stock Performance

NASDAQ:PEP opened at $149.06 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The stock has a market cap of $203.73 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The firm’s fifty day simple moving average is $155.02 and its 200-day simple moving average is $152.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.48 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s payout ratio is currently 89.32%.

PepsiCo declared that its board has initiated a share buyback plan on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Some market coverage points to PepsiCo as a possible momentum winner in consumer staples, suggesting investors are still rotating into defensive, dividend-paying names. Pepsi, Apple, and 9 More AI Momentum Trade Winners. Plus 4 Losers to Dump.
• Positive Sentiment: PepsiCo continues to screen as an attractive income stock, with recent dividend-focused articles reinforcing its status as a long-running dividend grower. From High-Yield to High-Growth: 3 Stocks Boosting Dividends
• Neutral Sentiment: Several recent pieces argue PepsiCo is fairly priced and not a bargain versus peers, which suggests limited near-term upside unless fundamentals improve further. PepsiCo: Fairly Priced, But Not A Deal Compared To Peers
• Negative Sentiment: Wells Fargo cut its price target on PepsiCo to $160 from $165 and kept an equal-weight rating, a sign that analysts see more limited near-term appreciation. Wells Fargo adjusts price target on PepsiCo to $160 from $165, maintains equalweight rating
• Negative Sentiment: One recent article noted PepsiCo has pulled back over the past week despite a strong first-quarter earnings report, which may be weighing on sentiment. PepsiCo’s Next Big Rally Could Be Just Getting Started

PepsiCo Company Profile

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.