Meiji Yasuda Life Insurance Co Sells 437 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Meiji Yasuda Life Insurance Co reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,222 shares of the company’s stock after selling 437 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in PepsiCo were worth $2,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. DoubleLine ETF Adviser LP raised its position in PepsiCo by 2.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 32,817 shares of the company’s stock worth $4,990,000 after buying an additional 807 shares during the last quarter. Pennington Partners & CO. LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $257,000. Hutner Capital Management Inc. grew its holdings in PepsiCo by 14.6% during the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after purchasing an additional 6,865 shares during the period. South Plains Financial Inc. purchased a new stake in PepsiCo in the fourth quarter worth about $1,209,000. Finally, FAS Wealth Partners Inc. increased its position in PepsiCo by 2.3% in the fourth quarter. FAS Wealth Partners Inc. now owns 20,948 shares of the company’s stock worth $3,185,000 after buying an additional 471 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a research note on Tuesday, April 22nd. Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Finally, Barclays lowered their price objective on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.69.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $133.55 on Friday. The company has a market capitalization of $183.14 billion, a PE ratio of 19.22, a P/E/G ratio of 3.09 and a beta of 0.49. The company has a 50-day simple moving average of $146.40 and a two-hundred day simple moving average of $152.82. PepsiCo, Inc. has a one year low of $131.52 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Friday, March 7th. PepsiCo’s payout ratio is 79.71%.

PepsiCo 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.