Meiji Yasuda Asset Management Co Ltd. Sells 1,550 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Meiji Yasuda Asset Management Co Ltd. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,188 shares of the company’s stock after selling 1,550 shares during the period. PepsiCo accounts for approximately 0.9% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 17th biggest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in PepsiCo were worth $22,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flossbach Von Storch AG lifted its position in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp grew its holdings in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in PepsiCo in the 1st quarter valued at $166,243,000. Finally, Swedbank AB bought a new position in PepsiCo during the 1st quarter valued at $148,336,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $176.87 on Wednesday. The company’s 50 day moving average is $172.97 and its 200-day moving average is $171.65. The firm has a market cap of $243.16 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the business posted $2.09 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Barclays upped their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Morgan Stanley dropped their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

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.