DnB Asset Management AS Has $110.35 Million Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• DnB Asset Management AS increased its stake in PepsiCo, Inc. by 17.1% during the first quarter, acquiring an additional 107,528 shares, bringing their total ownership to approximately $110.35 million.
• PepsiCo reported a quarterly EPS of $2.12, exceeding the consensus estimate of $2.03, and achieved revenue of $22.73 billion for the quarter, slightly above the expected $22.28 billion.
• The company announced a quarterly dividend of $1.4225 to be paid on September 30th, resulting in an annualized dividend yield of 3.8%.

DnB Asset Management AS boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 735,958 shares of the company's stock after purchasing an additional 107,528 shares during the quarter. DnB Asset Management AS owned approximately 0.05% of PepsiCo worth $110,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares in the last quarter. Bank of New York Mellon Corp boosted its position in PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock valued at $2,108,585,000 after purchasing an additional 49,699 shares during the period. Invesco Ltd. boosted its position in PepsiCo by 4.5% during the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company's stock valued at $1,698,544,000 after purchasing an additional 491,894 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PepsiCo by 3.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,317,520 shares of the company's stock valued at $1,720,942,000 after purchasing an additional 416,537 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Bank of America reduced their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Cowen restated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Barclays boosted their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $158.60.

PepsiCo Price Performance

Shares of PEP traded down $0.50 during midday trading on Friday, reaching $146.39. The stock had a trading volume of 7,185,531 shares, compared to its average volume of 8,037,725. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.43. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The firm's 50 day moving average price is $143.00 and its 200-day moving average price is $140.86. The company has a market capitalization of $200.42 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.70 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the previous year, the business earned $2.28 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo's payout ratio is 103.64%.

About PepsiCo

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.