Norges Bank Purchases New Position in PepsiCo, Inc. (NASDAQ:PEP)

Norges Bank purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,950,577 shares of the company's stock, valued at approximately $2,729,565,000. Norges Bank owned 1.31% of PepsiCo as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PEP. Collier Financial acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo during the fourth quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter valued at $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter worth about $34,000. Finally, Human Investing LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company dropped their price objective on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. BNP Paribas decreased their price target on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada initiated coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $169.88.

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PepsiCo Trading Down 0.3 %

PepsiCo stock traded down $0.40 during midday trading on Friday, reaching $149.27. 8,549,260 shares of the stock traded hands, compared to its average volume of 5,875,691. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market cap of $204.72 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a 50-day simple moving average of $149.25 and a two-hundred day simple moving average of $158.03. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

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

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 3.63%. PepsiCo's dividend payout ratio (DPR) 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.