Nordea Investment Management AB Sells 375,527 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Nordea Investment Management AB decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,766,510 shares of the company’s stock after selling 375,527 shares during the quarter. Nordea Investment Management AB’s holdings in PepsiCo were worth $572,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Rakuten Securities Inc. grew its stake in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.31.

PepsiCo Stock Down 0.4 %

Shares of NASDAQ:PEP opened at $149.65 on Monday. The firm has a 50 day simple moving average of $159.51 and a 200-day simple moving average of $167.26. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $149.56 and a twelve month high of $183.41. The company has a market capitalization of $205.32 billion, a PE ratio of 22.07, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.62%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.