Sumitomo Mitsui Financial Group Inc. Trims Position in PepsiCo, Inc. $PEP

Sumitomo Mitsui Financial Group Inc. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,200 shares of the company’s stock after selling 2,442 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in PepsiCo were worth $2,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of PepsiCo during the 1st quarter valued at approximately $946,978,000. Laurel Wealth Advisors LLC increased its stake in PepsiCo by 14,420.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after acquiring an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in PepsiCo in the second quarter valued at $460,110,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 9.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on PEP shares. Rothschild & Co Redburn lifted their target price on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. UBS Group dropped their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Loop Capital set a $164.00 target price on PepsiCo in a research note on Thursday, October 23rd. Citigroup dropped their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Finally, Royal Bank Of Canada reduced their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $156.90.

PepsiCo Price Performance

PEP stock opened at $147.98 on Thursday. The business’s 50-day moving average is $145.72 and its two-hundred day moving average is $140.85. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market capitalization of $202.34 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $165.13.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

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.