Bank Pictet & Cie Europe AG cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 47.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 245,605 shares of the company's stock after selling 224,782 shares during the period. Bank Pictet & Cie Europe AG's holdings in PepsiCo were worth $36,826,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PEP. Tallon Kerry Patrick purchased a new position in PepsiCo in the 4th quarter worth approximately $224,000. Brighton Jones LLC grew its position in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares during the period. Union Bancaire Privee UBP SA bought a new stake in PepsiCo in the 4th quarter worth approximately $9,268,000. AustralianSuper Pty Ltd grew its position in PepsiCo by 26.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 13,547 shares of the company's stock worth $2,060,000 after purchasing an additional 2,865 shares during the period. Finally, TigerOak Management L.L.C. bought a new stake in PepsiCo in the 4th quarter worth approximately $694,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PEP has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Morgan Stanley cut their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $160.69.
Read Our Latest Stock Analysis on PepsiCo
PepsiCo Price Performance
PEP stock traded up $0.56 during mid-day trading on Monday, hitting $131.41. The company had a trading volume of 11,180,020 shares, compared to its average volume of 6,695,023. The company has a market capitalization of $180.17 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a 50-day moving average price of $134.63 and a 200 day moving average price of $144.96.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.33%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio is presently 83.68%.
About PepsiCo
(
Free Report)
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.
Recommended Stories
Before you consider PepsiCo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepsiCo wasn't on the list.
While PepsiCo currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
