Resona Asset Management Co. Ltd. Has $74.49 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• Resona Asset Management trimmed its PepsiCo stake by 3.6% in the fourth quarter, but still held 518,548 shares valued at about $74.5 million.
• PepsiCo recently beat quarterly expectations, reporting $1.61 EPS on $19.44 billion in revenue, while revenue rose 8.5% year over year. The company also authorized a $10 billion share buyback and raised its quarterly dividend to $1.48 per share.
• Sentiment is mixed: several analysts lifted price targets, but the broader consensus remains Hold with a target around $170.11. Wells Fargo recently cut its target to $160, suggesting limited near-term upside.

Resona Asset Management Co. Ltd. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,548 shares of the company's stock after selling 19,551 shares during the period. Resona Asset Management Co. Ltd.'s holdings in PepsiCo were worth $74,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. McKinley Carter Wealth Services Inc. raised its position in PepsiCo by 2.1% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 42,885 shares of the company's stock valued at $6,155,000 after buying an additional 870 shares during the period. Csenge Advisory Group raised its position in PepsiCo by 9.1% during the fourth quarter. Csenge Advisory Group now owns 26,122 shares of the company's stock valued at $3,749,000 after buying an additional 2,182 shares during the period. Integral Investment Advisors Inc. increased its position in PepsiCo by 2.4% in the 4th quarter. Integral Investment Advisors Inc. now owns 5,097 shares of the company's stock worth $732,000 after purchasing an additional 119 shares during the last quarter. Profund Advisors LLC increased its position in PepsiCo by 7.7% in the 4th quarter. Profund Advisors LLC now owns 117,792 shares of the company's stock worth $16,906,000 after purchasing an additional 8,392 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in PepsiCo by 18.7% in the 4th quarter. ProShare Advisors LLC now owns 3,406,808 shares of the company's stock worth $488,945,000 after purchasing an additional 537,750 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Key PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Some market coverage points to PepsiCo as a possible momentum winner in consumer staples, suggesting investors are still rotating into defensive, dividend-paying names. Pepsi, Apple, and 9 More AI Momentum Trade Winners. Plus 4 Losers to Dump.
• Positive Sentiment: PepsiCo continues to screen as an attractive income stock, with recent dividend-focused articles reinforcing its status as a long-running dividend grower. From High-Yield to High-Growth: 3 Stocks Boosting Dividends
• Neutral Sentiment: Several recent pieces argue PepsiCo is fairly priced and not a bargain versus peers, which suggests limited near-term upside unless fundamentals improve further. PepsiCo: Fairly Priced, But Not A Deal Compared To Peers
• Negative Sentiment: Wells Fargo cut its price target on PepsiCo to $160 from $165 and kept an equal-weight rating, a sign that analysts see more limited near-term appreciation. Wells Fargo adjusts price target on PepsiCo to $160 from $165, maintains equalweight rating
• Negative Sentiment: One recent article noted PepsiCo has pulled back over the past week despite a strong first-quarter earnings report, which may be weighing on sentiment. PepsiCo's Next Big Rally Could Be Just Getting Started

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $149.06 on Tuesday. The business has a 50 day moving average price of $155.02 and a 200 day moving average price of $152.41. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a market cap of $203.73 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.73 and a beta of 0.38. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo announced that its Board of Directors has approved a share buyback program on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's dividend payout ratio is currently 89.32%.

Analysts Set New Price Targets

Several research analysts have weighed in on PEP shares. Piper Sandler upped their target price on PepsiCo from $172.00 to $181.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PepsiCo in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $169.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, Wall Street Zen lowered PepsiCo from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and a consensus price target of $170.11.

PepsiCo Company Profile

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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