KLP Kapitalforvaltning AS Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

KLP Kapitalforvaltning AS purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 515,296 shares of the company's stock, valued at approximately $78,945,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. State Street Corp lifted its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company's stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Bank of New York Mellon Corp lifted its holdings in PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company's stock worth $2,130,841,000 after purchasing an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

PEP has been the subject of a number of research reports. StockNews.com downgraded PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price objective for the company. Finally, HSBC reduced their target price on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo has a consensus rating of "Hold" and an average price target of $169.88.

PepsiCo Price Performance

Shares of PEP traded up $3.10 during trading hours on Wednesday, reaching $148.64. The stock had a trading volume of 5,881,682 shares, compared to its average volume of 5,426,476. The stock has a market capitalization of $203.86 billion, a PE ratio of 21.39, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company's 50-day moving average is $149.09 and its two-hundred day moving average is $158.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the firm posted $1.78 earnings per share. The business's revenue for the quarter was down .2% on a year-over-year basis. Research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo's payout ratio is currently 77.99%.

PepsiCo Profile

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.