BI Asset Management Fondsmaeglerselskab A S cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,010 shares of the company’s stock after selling 22,651 shares during the period. PepsiCo accounts for 1.9% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 9th largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in PepsiCo were worth $31,467,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Rezny Wealth Management Inc. bought a new stake in PepsiCo in the 1st quarter valued at $12,868,000. PSI Advisors LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $25,000. Evolution Wealth Advisors LLC increased its holdings in shares of PepsiCo by 221.0% in the fourth quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after purchasing an additional 137 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in shares of PepsiCo in the fourth quarter valued at about $27,000. Finally, Permanens Capital L.P. lifted its stake in shares of PepsiCo by 511.4% during the 4th quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock worth $37,000 after buying an additional 225 shares during the last quarter. 70.84% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of PepsiCo from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Barclays reissued a “hold” rating and set a $136.00 price target on shares of PepsiCo in a report on Friday, April 17th. Deutsche Bank reduced their price target on PepsiCo from $145.00 to $143.00 and set a “hold” rating for the company in a research note on Thursday, March 12th. Royal Bank of Canada reiterated a “buy” rating and set a $153.00 price objective on shares of PepsiCo in a research report on Tuesday, April 14th. Finally, SunTrust Banks boosted their target price on shares of PepsiCo from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $142.00.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.04. PepsiCo had a return on equity of 55.74% and a net margin of 10.62%. The business had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $13.20 billion. During the same period in the prior year, the company earned $0.97 EPS. PepsiCo’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 5.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.0225 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $4.09 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s dividend payout ratio is 69.08%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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