Equitable Holdings Inc. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% 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 20,160 shares of the company’s stock after purchasing an additional 181 shares during the period. Equitable Holdings Inc.’s holdings in PepsiCo were worth $2,990,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of PEP. Great West Life Assurance Co. Can raised its holdings in PepsiCo by 50.1% during the third quarter. Great West Life Assurance Co. Can now owns 2,937,391 shares of the company’s stock worth $257,555,000 after acquiring an additional 980,642 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PepsiCo by 3,141.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 913,179 shares of the company’s stock worth $135,424,000 after purchasing an additional 885,011 shares in the last quarter. Morgan Stanley boosted its holdings in shares of PepsiCo by 6.5% in the 3rd quarter. Morgan Stanley now owns 11,805,248 shares of the company’s stock valued at $1,636,208,000 after buying an additional 720,076 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PepsiCo by 7.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,277,512 shares of the company’s stock valued at $1,147,262,000 after buying an additional 575,742 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in PepsiCo by 177.7% during the fourth quarter. CIBC World Markets Inc. now owns 866,282 shares of the company’s stock worth $128,470,000 after acquiring an additional 554,330 shares in the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.
Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered shares of PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 price objective on the stock. in a research note on Monday, January 4th. They noted that the move was a valuation call. Wells Fargo & Company assumed coverage on PepsiCo in a report on Monday, December 7th. They set an “equal weight” rating and a $157.00 target price on the stock. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research note on Friday, February 12th. Barclays restated a “neutral” rating on shares of PepsiCo in a research note on Sunday, February 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on PepsiCo from $143.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and a consensus price target of $144.78.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, February 11th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.02. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. On average, equities research analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th will be paid a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, March 4th. PepsiCo’s payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.
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