Sumitomo Mitsui Trust Group Inc. Sells 86,654 Shares of PepsiCo, Inc. $PEP

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,543,381 shares of the company’s stock after selling 86,654 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PepsiCo were worth $550,252,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new position in PepsiCo during the 4th quarter worth approximately $28,000. MH & Associates Securities Management Corp ADV acquired a new position in PepsiCo during the 4th quarter worth approximately $29,000. Networth Advisors LLC lifted its stake in PepsiCo by 2,857.1% in the 1st quarter. Networth Advisors LLC now owns 207 shares of the company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Vermillion Wealth Management Inc. boosted its position in PepsiCo by 99.1% in the first quarter. Vermillion Wealth Management Inc. now owns 217 shares of the company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEP. Bank of America reduced their price objective on PepsiCo from $173.00 to $164.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. Evercore lifted their price target on PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. The Goldman Sachs Group upped their price objective on PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Piper Sandler decreased their price target on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, HSBC boosted their price objective on shares of PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $164.40.

Key PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investors are betting PepsiCo’s turnaround is holding, with recent commentary pointing to better North American snack demand and improving volume trends after price resets and product innovation. PepsiCo Rises Ahead of Q2 Results as Investors Bet Turnaround Gains Are Holding
• Positive Sentiment: Several market previews suggest PepsiCo could post higher second-quarter sales, which would support the idea that its restructuring and growth initiatives are beginning to work. PepsiCo Projected to Post Higher 2Q Sales Despite Rocky Turnaround — Earnings Preview
• Positive Sentiment: Analysts and commentators continue to describe PEP as attractive ahead of earnings, with implied post-earnings volatility indicating traders expect a meaningful move if results surprise. PepsiCo Stock Could Swing 4.16% After Earnings on Thursday
• Positive Sentiment: BNP Paribas Exane still rates PepsiCo “outperform” even after trimming its price target to $183, implying upside from current levels. Benzinga report on BNP Paribas Exane target cut
• Neutral Sentiment: PepsiCo unveiled a whole grain oat-based shake and is trying again with Quaker drinks in the U.S., signaling ongoing product innovation but with unclear near-term financial impact. PepsiCo unveils whole grain oat-based shake
• Negative Sentiment: Some analysts have recently trimmed price targets, and PepsiCo remains under pressure to prove its turnaround can offset softer U.S. sales and broader consumer-staples caution. PepsiCo (PEP) Price Target Trimmed at JP Morgan. Here is Why

PepsiCo Price Performance

Shares of PEP opened at $142.51 on Thursday. The firm has a market cap of $194.78 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.92 and a beta of 0.36. PepsiCo, Inc. has a 52-week low of $132.96 and a 52-week high of $171.48. The business’s 50 day moving average price is $146.14 and its two-hundred day moving average price is $151.63. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter last year, the firm posted $1.48 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.62 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a $1.48 dividend. The ex-dividend date was Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. PepsiCo’s dividend payout ratio is 92.94%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.