Resona Asset Management Co. Ltd. Sells 19,551 Shares of PepsiCo, Inc. $PEP

Resona Asset Management Co. Ltd. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 518,548 shares of the company’s stock after selling 19,551 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in PepsiCo were worth $74,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. United Bank lifted its position in shares of PepsiCo by 3.9% in the 4th quarter. United Bank now owns 1,717 shares of the company’s stock worth $246,000 after acquiring an additional 65 shares during the period. Koa Wealth Management LLC lifted its position in shares of PepsiCo by 0.9% in the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock worth $1,149,000 after acquiring an additional 68 shares during the period. Facet Wealth Inc. lifted its position in shares of PepsiCo by 3.2% in the 3rd quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock worth $312,000 after acquiring an additional 69 shares during the period. Delta Asset Management LLC TN raised its holdings in shares of PepsiCo by 0.6% in the 3rd quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock worth $1,545,000 after buying an additional 70 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of PepsiCo by 2.8% in the 3rd quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock worth $366,000 after buying an additional 70 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Some market coverage points to PepsiCo as a possible momentum winner in consumer staples, suggesting investors are still rotating into defensive, dividend-paying names. Pepsi, Apple, and 9 More AI Momentum Trade Winners. Plus 4 Losers to Dump.
• Positive Sentiment: PepsiCo continues to screen as an attractive income stock, with recent dividend-focused articles reinforcing its status as a long-running dividend grower. From High-Yield to High-Growth: 3 Stocks Boosting Dividends
• Neutral Sentiment: Several recent pieces argue PepsiCo is fairly priced and not a bargain versus peers, which suggests limited near-term upside unless fundamentals improve further. PepsiCo: Fairly Priced, But Not A Deal Compared To Peers
• Negative Sentiment: Wells Fargo cut its price target on PepsiCo to $160 from $165 and kept an equal-weight rating, a sign that analysts see more limited near-term appreciation. Wells Fargo adjusts price target on PepsiCo to $160 from $165, maintains equalweight rating
• Negative Sentiment: One recent article noted PepsiCo has pulled back over the past week despite a strong first-quarter earnings report, which may be weighing on sentiment. PepsiCo’s Next Big Rally Could Be Just Getting Started

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PEP shares. UBS Group dropped their target price on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Piper Sandler increased their target price on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Barclays increased their target price on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Finally, Argus raised PepsiCo to a “hold” rating in a report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $170.11.

PepsiCo Trading Down 0.0%

PEP stock opened at $149.06 on Tuesday. The business has a fifty day moving average price of $155.02 and a 200 day moving average price of $152.41. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The stock has a market capitalization of $203.73 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.73 and a beta of 0.38. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the firm posted $1.48 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo announced that its board has authorized a share buyback plan on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is 89.32%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.