Resona Asset Management Co. Ltd. Grows Position in PepsiCo, Inc. $PEP

Key Points

• Resona Asset Management increased its PepsiCo stake by 1.7% in the first quarter, buying 8,597 additional shares and bringing its total holding to 527,145 shares worth about $82.0 million.
• PepsiCo recently reported better-than-expected quarterly results, with EPS of $1.61 versus estimates of $1.55 and revenue of $19.44 billion versus $18.89 billion expected. Revenue rose 8.5% year over year.
• The company also raised its quarterly dividend to $1.48 per share from $1.42, lifting the annualized payout to $5.92 and the yield to 4.2%, though analyst sentiment remains mixed with a consensus rating of “Hold.”

Resona Asset Management Co. Ltd. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,145 shares of the company's stock after purchasing an additional 8,597 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in PepsiCo were worth $82,007,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEP. Brighton Jones LLC raised its position in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the period. Caxton Associates LLP acquired a new stake in shares of PepsiCo during the 1st quarter valued at about $251,000. Sivia Capital Partners LLC increased its stake in shares of PepsiCo by 138.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company's stock valued at $862,000 after purchasing an additional 3,790 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in PepsiCo by 10.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company's stock worth $5,039,000 after purchasing an additional 3,502 shares during the period. Finally, Sei Investments Co. boosted its position in PepsiCo by 45.5% during the second quarter. Sei Investments Co. now owns 536,133 shares of the company's stock worth $70,789,000 after purchasing an additional 167,707 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investors are betting PepsiCo’s turnaround is holding, with recent commentary pointing to better North American snack demand and improving volume trends after price resets and product innovation. PepsiCo Rises Ahead of Q2 Results as Investors Bet Turnaround Gains Are Holding
• Positive Sentiment: Several market previews suggest PepsiCo could post higher second-quarter sales, which would support the idea that its restructuring and growth initiatives are beginning to work. PepsiCo Projected to Post Higher 2Q Sales Despite Rocky Turnaround -- Earnings Preview
• Positive Sentiment: Analysts and commentators continue to describe PEP as attractive ahead of earnings, with implied post-earnings volatility indicating traders expect a meaningful move if results surprise. PepsiCo Stock Could Swing 4.16% After Earnings on Thursday
• Positive Sentiment: BNP Paribas Exane still rates PepsiCo “outperform” even after trimming its price target to $183, implying upside from current levels. Benzinga report on BNP Paribas Exane target cut
• Neutral Sentiment: PepsiCo unveiled a whole grain oat-based shake and is trying again with Quaker drinks in the U.S., signaling ongoing product innovation but with unclear near-term financial impact. PepsiCo unveils whole grain oat-based shake
• Negative Sentiment: Some analysts have recently trimmed price targets, and PepsiCo remains under pressure to prove its turnaround can offset softer U.S. sales and broader consumer-staples caution. PepsiCo (PEP) Price Target Trimmed at JP Morgan. Here is Why

PepsiCo Price Performance

Shares of PepsiCo stock opened at $142.51 on Thursday. The business has a 50 day simple moving average of $146.14 and a two-hundred day simple moving average of $151.63. PepsiCo, Inc. has a 12 month low of $132.96 and a 12 month high of $171.48. The stock has a market capitalization of $194.78 billion, a P/E ratio of 22.37, a PEG ratio of 2.92 and a beta of 0.36. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $18.89 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The business's revenue was up 8.5% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 8.62 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a dividend of $1.48 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.2%. PepsiCo's dividend payout ratio is presently 92.94%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. Rothschild & Co Redburn raised their price objective on PepsiCo from $130.00 to $132.00 in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $178.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen cut shares of PepsiCo from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. The Goldman Sachs Group boosted their price target on shares of PepsiCo from $180.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $160.00 to $150.00 and set an "equal weight" rating for the company in a research report on Friday, June 5th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of "Hold" and an average target price of $164.40.

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.

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