Assenagon Asset Management S.A. Has $259.35 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Assenagon Asset Management S.A. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 104.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,705,574 shares of the company’s stock after purchasing an additional 870,451 shares during the period. Assenagon Asset Management S.A.’s holdings in PepsiCo were worth $259,350,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its position in PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after acquiring an additional 4,712 shares during the last quarter. IHT Wealth Management LLC grew 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 worth $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Meridian Wealth Management LLC bought a new position in shares of PepsiCo in the 3rd quarter worth about $9,589,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $144.95 on Wednesday. The company has a market cap of $198.87 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The business has a 50 day moving average price of $156.46 and a 200-day moving average price of $166.20.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.