Pictet Asset Management Holding SA Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Pictet Asset Management Holding SA increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 844,711 shares of the company’s stock after purchasing an additional 87,727 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PepsiCo were worth $128,447,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $168.00 to $156.00 in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP opened at $149.27 on Friday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The business’s 50 day moving average is $149.25 and its two-hundred day moving average is $158.17. The firm has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its 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. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

PepsiCo Company 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.