PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 68.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,965 shares of the company’s stock after purchasing an additional 17,888 shares during the quarter. Zions Bancorporation N.A.’s holdings in PepsiCo were worth $6,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in PepsiCo by 104.2% during the fourth 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 in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of PepsiCo by 12.8% in 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 buying an additional 4,712 shares during the period. Janus Henderson Group PLC lifted its stake in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD grew its position in PepsiCo by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after acquiring an additional 61,541 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Royal Bank of Canada started coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price for the company. Wells Fargo & Company reduced their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Finally, Barclays cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.88.

PepsiCo Trading Up 0.7 %

NASDAQ:PEP opened at $146.45 on Tuesday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year 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 stock has a fifty day moving average price of $149.08 and a two-hundred day moving average price of $158.73. The stock has a market capitalization of $200.86 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.09 and a beta of 0.52.

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

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s dividend payout ratio 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.