PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,370 shares of the company’s stock after acquiring an additional 140 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in PepsiCo were worth $573,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. bought a new stake in shares of PepsiCo in the third quarter worth $230,000. Truepoint Inc. boosted its holdings in shares of PepsiCo by 34.7% in the 3rd quarter. Truepoint Inc. now owns 2,081 shares of the company’s stock valued at $354,000 after buying an additional 536 shares during the period. Palisade Asset Management LLC raised its stake in PepsiCo by 1.5% during the third quarter. Palisade Asset Management LLC now owns 98,138 shares of the company’s stock worth $16,688,000 after acquiring an additional 1,437 shares during the period. Kingsview Wealth Management LLC boosted its position in PepsiCo by 2.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 84,988 shares of the company’s stock valued at $14,452,000 after purchasing an additional 2,397 shares during the period. Finally, Cerity Partners LLC grew its stake in PepsiCo by 11.3% during the 3rd quarter. Cerity Partners LLC now owns 944,940 shares of the company’s stock worth $160,687,000 after buying an additional 96,198 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $162.00 on Monday. The stock has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a fifty day simple moving average of $169.01 and a 200-day simple moving average of $170.89.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.25 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

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.