Lansforsakringar Fondforvaltning AB publ Buys 73,311 Shares of PepsiCo, Inc. $PEP

Lansforsakringar Fondforvaltning AB publ grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,552 shares of the company’s stock after acquiring an additional 73,311 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in PepsiCo were worth $79,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in PepsiCo in the fourth quarter worth approximately $26,000. Swiss RE Ltd. bought a new stake in PepsiCo during the 4th quarter valued at $28,000. MH & Associates Securities Management Corp ADV bought a new stake in PepsiCo during the 4th quarter valued at $29,000. Imprint Wealth LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth $31,000. Finally, Networth Advisors LLC grew its position in shares of PepsiCo by 2,857.1% during the 1st quarter. Networth Advisors LLC now owns 207 shares of the company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent research reports. Citigroup decreased their price objective on PepsiCo from $182.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, June 25th. The Goldman Sachs Group raised their target price on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. Finally, Evercore lifted their price objective on shares of PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Eight research 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 data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $166.85.

PepsiCo Stock Down 1.9%

PepsiCo stock opened at $138.68 on Tuesday. PepsiCo, Inc. has a 1-year low of $130.59 and a 1-year high of $171.48. The business has a fifty day moving average price of $148.00 and a 200-day moving average price of $152.02. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The stock has a market capitalization of $189.54 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.85 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.62 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 4.3%. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. PepsiCo’s dividend payout ratio is currently 92.94%.

PepsiCo Profile

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.