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.

Institutional Ownership by Quarter for PepsiCo (NYSE:PEP)

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%.

TRADEMARK VIOLATION NOTICE: “25,393 Shares in PepsiCo, Inc. (PEP) Acquired by Assenagon Asset Management S.A.” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/05/20/assenagon-asset-management-s-a-invests-2-657-million-in-pepsico-inc-pep-updated-updated.html.

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.

About PepsiCo

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).

12 Month Chart for NYSE:PEP

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