PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,081 shares of the company’s stock after selling 2,432 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in PepsiCo were worth $3,662,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sierra Summit Advisors LLC grew its stake in PepsiCo by 18.2% during the 4th quarter. Sierra Summit Advisors LLC now owns 2,718 shares of the company’s stock valued at $413,000 after purchasing an additional 419 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of PepsiCo by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,752,560 shares of the company’s stock valued at $266,494,000 after buying an additional 282,071 shares during the last quarter. Clarkston Capital Partners LLC grew its position in shares of PepsiCo by 0.4% during the fourth quarter. Clarkston Capital Partners LLC now owns 181,624 shares of the company’s stock worth $27,618,000 after buying an additional 669 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in shares of PepsiCo by 33.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 196,500 shares of the company’s stock worth $29,880,000 after buying an additional 49,500 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in PepsiCo by 26.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,687,231 shares of the company’s stock valued at $256,511,000 after acquiring an additional 358,092 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PEP shares. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $168.00 to $156.00 in a research note on Tuesday, March 18th. Morgan Stanley decreased their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.61 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm’s 50 day moving average is $149.33 and its two-hundred day moving average is $156.94. The firm has a market capitalization of $201.05 billion, a P/E ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s payout ratio is 77.99%.

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.