Skandinaviska Enskilda Banken AB publ Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Skandinaviska Enskilda Banken AB publ lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 276,480 shares of the company’s stock after acquiring an additional 2,502 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PepsiCo were worth $45,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Strategy Asset Managers LLC raised its holdings in shares of PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after acquiring an additional 57 shares during the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC raised its holdings in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton raised its holdings in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC increased its holdings in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PEP. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, BNP Paribas began coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Trading Down 0.3 %

PEP opened at $174.66 on Friday. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The business has a fifty day simple moving average of $173.42 and a 200-day simple moving average of $171.70. The firm has a market cap of $240.12 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio is presently 78.66%.

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.