PepsiCo, Inc. $PEP Shares Sold by Swiss National Bank

Swiss National Bank cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,952,200 shares of the company’s stock after selling 198,900 shares during the quarter. Swiss National Bank owned about 0.29% of PepsiCo worth $555,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Clayton Financial Group LLC acquired a new stake in PepsiCo in the third quarter worth approximately $872,000. Avantax Advisory Services Inc. increased its position in shares of PepsiCo by 2.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after purchasing an additional 4,627 shares during the period. Kathmere Capital Management LLC raised its stake in shares of PepsiCo by 122.6% in the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock worth $2,860,000 after buying an additional 11,217 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of PepsiCo by 11.7% in the second quarter. Invesco Ltd. now owns 12,659,046 shares of the company’s stock valued at $1,671,500,000 after buying an additional 1,330,888 shares during the period. Finally, Amica Retiree Medical Trust bought a new position in PepsiCo during the second quarter valued at about $124,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PEP shares. Piper Sandler boosted their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $154.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $164.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Morgan Stanley raised their target price on shares of PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada lifted their price target on shares of PepsiCo from $156.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $168.50.

PepsiCo Price Performance

NASDAQ PEP opened at $159.43 on Monday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The stock’s 50-day moving average price is $155.04 and its two-hundred day moving average price is $149.29. The company has a market cap of $217.89 billion, a PE ratio of 26.57, a PEG ratio of 3.06 and a beta of 0.39. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s payout ratio is 94.83%.

PepsiCo declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 3rd that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

About PepsiCo

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.