25,393 Shares in PepsiCo, Inc. (PEP) Acquired by Assenagon Asset Management S.A.
Assenagon Asset Management S.A. bought a new stake in PepsiCo, Inc. (NYSE:PEP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 25,393 shares of the company’s stock, valued at approximately $2,657,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of PepsiCo by 21.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 21,642,802 shares of the company’s stock valued at $2,354,088,000 after buying an additional 3,773,486 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in PepsiCo during the fourth quarter valued at $355,439,000. Asset Management One Co. Ltd. increased its stake in PepsiCo by 692.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,564,260 shares of the company’s stock valued at $268,372,000 after buying an additional 2,240,572 shares during the last quarter. Fiera Capital Corp increased its stake in PepsiCo by 217.7% in the fourth quarter. Fiera Capital Corp now owns 2,417,934 shares of the company’s stock valued at $252,989,000 after buying an additional 1,656,939 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in PepsiCo by 179.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,276,462 shares of the company’s stock valued at $238,186,000 after buying an additional 1,462,000 shares during the last quarter. 70.43% of the stock is owned by hedge funds and other institutional investors.
Shares of PepsiCo, Inc. (NYSE:PEP) traded down 0.30% on Friday, hitting $113.69. The stock had a trading volume of 5,750,075 shares. PepsiCo, Inc. has a 12 month low of $98.50 and a 12 month high of $114.66. The firm has a market cap of $162.41 billion, a P/E ratio of 24.50 and a beta of 0.53. The firm’s 50-day moving average price is $112.95 and its 200 day moving average price is $107.62.
PepsiCo (NYSE:PEP) last released its quarterly earnings data on Wednesday, April 26th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $11.98 billion. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Analysts anticipate that PepsiCo, Inc. will post $5.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be issued a dividend of $0.805 per share. The ex-dividend date is Wednesday, May 31st. This represents a $3.22 dividend on an annualized basis and a yield of 2.82%. This is an increase from PepsiCo’s previous quarterly dividend of $0.75. PepsiCo’s payout ratio is currently 66.01%.
Several brokerages have commented on PEP. Vetr upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $125.54 target price on the stock in a research note on Wednesday, April 26th. Royal Bank of Canada set a $115.00 target price on PepsiCo and gave the company a “hold” rating in a research note on Monday, April 24th. Cowen and Company raised their price target on PepsiCo from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of PepsiCo in a research note on Friday, March 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $115.00 price target on shares of PepsiCo in a research note on Thursday, February 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $120.35.
In related news, CEO Ramon Laguarta sold 23,585 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $109.05, for a total transaction of $2,571,944.25. Following the sale, the chief executive officer now owns 135,859 shares of the company’s stock, valued at $14,815,423.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Vivek Sankaran sold 2,000 shares of PepsiCo stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $110.22, for a total transaction of $220,440.00. Following the transaction, the chief operating officer now owns 73,595 shares of the company’s stock, valued at approximately $8,111,640.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,343 shares of company stock worth $4,850,480. 0.33% of the stock is owned by insiders.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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