Dai ichi Life Insurance Company Ltd Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 176,154 shares of the company's stock after selling 34,751 shares during the period. PepsiCo makes up about 0.8% of Dai ichi Life Insurance Company Ltd's portfolio, making the stock its 26th biggest position. Dai ichi Life Insurance Company Ltd's holdings in PepsiCo were worth $29,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of PEP. Kennedy Capital Management LLC purchased a new stake in PepsiCo during the 1st quarter worth approximately $4,342,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of PepsiCo in the 1st quarter valued at $1,410,000. Hancock Whitney Corp boosted its holdings in shares of PepsiCo by 17.5% in the 1st quarter. Hancock Whitney Corp now owns 78,383 shares of the company's stock valued at $13,718,000 after acquiring an additional 11,655 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in shares of PepsiCo by 11.9% in the 1st quarter. Beacon Capital Management LLC now owns 1,791 shares of the company's stock valued at $313,000 after acquiring an additional 191 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in shares of PepsiCo by 3.9% in the 1st quarter. Tandem Capital Management Corp ADV now owns 13,632 shares of the company's stock valued at $2,386,000 after acquiring an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 0.6 %

NASDAQ:PEP traded up $1.05 during mid-day trading on Tuesday, hitting $163.05. The stock had a trading volume of 8,580,393 shares, compared to its average volume of 5,500,764. The stock has a 50-day simple moving average of $168.73 and a two-hundred day simple moving average of $170.78. The company has a market capitalization of $223.70 billion, a PE ratio of 24.05, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. 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 - Get Free Report) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analysts' expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The firm's revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. PepsiCo's payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. TD Cowen cut shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Finally, StockNews.com upgraded shares of PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $183.92.

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.