Avanza Fonder AB Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Avanza Fonder AB lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,095 shares of the company’s stock after selling 14,734 shares during the period. PepsiCo accounts for about 0.6% of Avanza Fonder AB’s holdings, making the stock its 23rd biggest position. Avanza Fonder AB’s holdings in PepsiCo were worth $19,400,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after acquiring an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 18.1% in 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 acquiring an additional 3,856,193 shares during the period. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter worth approximately $2,729,565,000. Finally, Northern Trust Corp grew its stake in shares of PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock worth $2,494,300,000 after acquiring an additional 1,306,818 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $129.96 on Tuesday. The stock’s fifty day moving average price is $135.76 and its 200-day moving average price is $145.84. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. 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 $178.19 billion, a P/E ratio of 18.70, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.38%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research report on Tuesday, April 22nd. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Barclays reduced their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Finally, Bank of America reduced their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $160.69.

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.