Resona Asset Management Co. Ltd. Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in PepsiCo, Inc. by 8.3%, holding 535,204 shares worth $80.19 million at the end of the first quarter.
• PepsiCo reported earnings of $2.12 per share for the last quarter, exceeding expectations, with a revenue of $22.73 billion, up 1.0% from the previous year.
• The company announced a quarterly dividend of $1.4225 per share, set to be paid on September 30th, representing a dividend yield of 3.9% with a payout ratio of 103.64%.

Resona Asset Management Co. Ltd. raised its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 535,204 shares of the company's stock after acquiring an additional 40,810 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in PepsiCo were worth $80,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at about $1,514,000. Savvy Advisors Inc. boosted its stake in shares of PepsiCo by 91.5% during the 4th quarter. Savvy Advisors Inc. now owns 6,205 shares of the company's stock valued at $944,000 after purchasing an additional 2,964 shares in the last quarter. Finally, Cahaba Wealth Management Inc. boosted its stake in shares of PepsiCo by 3.4% during the 4th quarter. Cahaba Wealth Management Inc. now owns 4,874 shares of the company's stock valued at $741,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.2%

Shares of PepsiCo stock opened at $144.87 on Tuesday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a market capitalization of $198.34 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.87 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73. The company has a 50-day simple moving average of $135.98 and a two-hundred day simple moving average of $140.57.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PEP. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $158.73.

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.

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