PepsiCo, Inc. $PEP Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 36.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,052 shares of the company’s stock after selling 20,871 shares during the period. E. Ohman J or Asset Management AB’s holdings in PepsiCo were worth $5,174,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new position in shares of PepsiCo during the second quarter valued at approximately $27,000. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the third quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its stake in PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares in the last quarter. Imprint Wealth LLC bought a new position in PepsiCo during the 3rd quarter valued at $31,000. Finally, Halbert Hargrove Global Advisors LLC increased its position in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after purchasing an additional 207 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.6%

Shares of PepsiCo stock opened at $150.88 on Tuesday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The firm has a market capitalization of $206.20 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.88 and a beta of 0.39. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The stock’s fifty day moving average is $158.41 and its 200-day moving average is $149.93.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.PepsiCo’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.96 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo declared that its board has approved a share repurchase program on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s dividend payout ratio (DPR) is 94.83%.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Citigroup upped their price objective on PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $164.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. BNP Paribas Exane set a $191.00 price objective on shares of PepsiCo in a research note on Wednesday, February 4th. Finally, Piper Sandler boosted their target price on shares of PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $169.00.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.