PepsiCo, Inc. (NASDAQ:PEP) Stake Reduced by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,598 shares of the company’s stock after selling 1,134 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in PepsiCo were worth $3,067,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PEP. Capital Advisors Ltd. LLC raised its stake in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares in the last quarter. Norden Group LLC raised its stake in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares in the last quarter. Marion Wealth Management grew its position in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in PepsiCo by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after buying an additional 11,485 shares during the period. Finally, Meyer Handelman Co. raised its position in shares of PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after buying an additional 9,465 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. TD Cowen decreased their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Trading Down 0.2 %

PepsiCo stock opened at $176.87 on Wednesday. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $243.16 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a 50 day moving average price of $172.97 and a 200 day moving average price of $171.65.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

PepsiCo Company 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.