Bank Pictet & Cie Europe AG Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bank Pictet & Cie Europe AG grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 470,387 shares of the company’s stock after acquiring an additional 11,538 shares during the period. PepsiCo comprises 1.6% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 16th biggest holding. Bank Pictet & Cie Europe AG’s holdings in PepsiCo were worth $71,527,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. International Assets Investment Management LLC increased its stake in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp increased its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. increased its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB increased its stake in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Van ECK Associates Corp increased its stake in PepsiCo by 360.0% during the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after buying an additional 1,328,672 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on PEP shares. HSBC dropped their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. BNP Paribas dropped their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada initiated coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ:PEP opened at $143.39 on Friday. The stock has a market cap of $196.66 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54. The firm has a fifty day moving average price of $150.09 and a 200 day moving average price of $163.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. PepsiCo’s payout ratio is currently 77.99%.

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.