Bank of New York Mellon Corp Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Bank of New York Mellon Corp lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the 4th quarter, Holdings Channel reports. The fund owned 14,013,158 shares of the company’s stock after acquiring an additional 689,383 shares during the quarter. Bank of New York Mellon Corp’s holdings in PepsiCo were worth $2,130,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. Empowered Funds LLC boosted its holdings in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares during the last quarter. Janus Henderson Group PLC boosted its stake in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Up 0.2 %

Shares of PepsiCo stock opened at $153.85 on Tuesday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $211.01 billion, a P/E ratio of 22.14, a P/E/G ratio of 3.09 and a beta of 0.54. The company has a fifty day moving average of $148.61 and a 200 day moving average of $161.98.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

About PepsiCo

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.