PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,924,121 shares of the company’s stock after acquiring an additional 29,221 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PepsiCo were worth $686,760,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 2.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,876,920 shares of the company’s stock valued at $995,728,000 after acquiring an additional 121,742 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in PepsiCo by 8.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,258,829 shares of the company’s stock valued at $213,296,000 after purchasing an additional 100,650 shares during the last quarter. Elevatus Welath Management raised its holdings in PepsiCo by 4.3% during the third quarter. Elevatus Welath Management now owns 2,809 shares of the company’s stock worth $476,000 after purchasing an additional 115 shares in the last quarter. Legacy Advisors LLC boosted its holdings in shares of PepsiCo by 10.0% in the 3rd quarter. Legacy Advisors LLC now owns 36,688 shares of the company’s stock valued at $6,216,000 after buying an additional 3,349 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in shares of PepsiCo by 0.3% in the 3rd quarter. Laurel Wealth Advisors LLC now owns 24,582 shares of the company’s stock valued at $4,165,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PEP shares. Barclays reduced their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Jefferies Financial Group raised their price target on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.04 during midday trading on Wednesday, reaching $163.54. The stock had a trading volume of 540,238 shares, compared to its average volume of 5,462,710. The stock has a market cap of $224.83 billion, a P/E ratio of 24.60, a P/E/G ratio of 2.71 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The firm has a fifty day simple moving average of $173.10 and a two-hundred day simple moving average of $170.26.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.31%. PepsiCo’s payout ratio is 81.50%.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.