Assenagon Asset Management S.A. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 627.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 840,476 shares of the company’s stock after purchasing an additional 724,915 shares during the period. PepsiCo accounts for approximately 1.1% of Assenagon Asset Management S.A.’s portfolio, making the stock its 6th largest position. Assenagon Asset Management S.A. owned 0.06% of PepsiCo worth $92,856,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Highwater Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter worth about $28,000. Horan Securities Inc. grew its position in PepsiCo by 460.0% during the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the period. Sound Income Strategies LLC grew its position in PepsiCo by 50.8% during the fourth quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock worth $66,000 after buying an additional 201 shares during the period. Ayalon Holdings Ltd. acquired a new position in PepsiCo during the fourth quarter worth about $74,000. Finally, Tributary Capital Management LLC acquired a new position in PepsiCo during the fourth quarter worth about $93,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Several research analysts have weighed in on PEP shares. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Macquarie upgraded shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price target on the stock in a research report on Tuesday, February 19th. Barclays reiterated a “hold” rating and issued a $111.00 price target (up from $104.00) on shares of PepsiCo in a research report on Monday, February 18th. Credit Suisse Group assumed coverage on shares of PepsiCo in a research report on Wednesday, March 6th. They issued an “underperform” rating and a $100.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of PepsiCo to $119.00 and gave the company a “hold” rating in a research report on Tuesday, February 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. PepsiCo currently has an average rating of “Hold” and an average price target of $118.79.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Friday, February 15th. The company reported $1.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.49. PepsiCo had a net margin of 19.35% and a return on equity of 69.83%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.52 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that PepsiCo, Inc. will post 5.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a yield of 3.00%. The ex-dividend date was Thursday, February 28th. PepsiCo’s payout ratio is currently 65.55%.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $117.28, for a total value of $1,524,640.00. Following the sale, the chief executive officer now owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.28% of the company’s stock.
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PepsiCo Company Profile
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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