Sumitomo Life Insurance Co. Has $3.54 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sumitomo Life Insurance Co. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,791 shares of the company’s stock after buying an additional 376 shares during the period. Sumitomo Life Insurance Co.’s holdings in PepsiCo were worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PEP. Capital Advisors Ltd. LLC lifted its holdings in shares of PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC lifted its stake in PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the last quarter. Marion Wealth Management boosted its holdings in shares of PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after purchasing an additional 494 shares in the last quarter. Meyer Handelman Co. raised its holdings in shares of PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after buying an additional 9,465 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of PepsiCo during the 1st quarter worth $28,366,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.7 %

NASDAQ:PEP traded down $1.16 on Wednesday, reaching $174.74. 563,890 shares of the stock traded hands, compared to its average volume of 5,482,329. The firm has a market capitalization of $240.23 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $173.63 and its 200-day moving average is $172.08.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. PepsiCo’s payout ratio is currently 78.66%.

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.