Sumitomo Mitsui Trust Group Inc. Sells 100,077 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sumitomo Mitsui Trust Group Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,625,800 shares of the company’s stock after selling 100,077 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PepsiCo were worth $551,339,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth about $31,000. Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter worth $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $145.35 on Friday. The company has a market cap of $199.42 billion, a PE ratio of 21.44, a PEG ratio of 2.92 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a 50 day moving average of $152.15 and a 200-day moving average of $164.39. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the business earned $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. On average, 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 will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. HSBC cut their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.47.

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.