PepsiCo, Inc. (NYSE:PEP) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Other large investors have modified their holdings of the company. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter valued at approximately $1,249,299,000. Ameriprise Financial Inc. boosted its stake in shares of PepsiCo by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 10,779,695 shares of the company’s stock valued at $1,077,245,000 after buying an additional 96,706 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of PepsiCo by 5.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 6,001,936 shares of the company’s stock valued at $599,714,000 after buying an additional 332,276 shares during the period. Fisher Asset Management boosted its stake in shares of PepsiCo by 1.3% in the fourth quarter. Fisher Asset Management now owns 5,341,365 shares of the company’s stock valued at $533,709,000 after buying an additional 70,317 shares during the period. Finally, Swiss National Bank boosted its stake in shares of PepsiCo by 0.7% in the fourth quarter. Swiss National Bank now owns 3,509,506 shares of the company’s stock valued at $350,670,000 after buying an additional 25,200 shares during the period.
Source: Watch List News