Resona Asset Management Co. Ltd. Buys New Stake in PepsiCo, Inc. (NASDAQ:PEP)

Resona Asset Management Co. Ltd. acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 494,394 shares of the company's stock, valued at approximately $75,235,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after purchasing an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. Norges Bank purchased a new position in shares of PepsiCo in the 4th quarter valued at about $2,729,565,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company's stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.4 %

Shares of PepsiCo stock traded down $0.58 during trading hours on Wednesday, hitting $139.72. 3,251,341 shares of the company's stock traded hands, compared to its average volume of 5,991,717. PepsiCo, Inc. has a twelve month low of $137.57 and a twelve month high of $183.41. The company has a market cap of $191.61 billion, a PE ratio of 20.08, a PEG ratio of 3.09 and a beta of 0.49. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a 50 day simple moving average of $148.70 and a 200-day simple moving average of $156.39.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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 $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Friday, March 7th. PepsiCo's payout ratio is 77.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price target on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target on the stock. StockNews.com downgraded PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of "Hold" and an average target price of $169.88.

About PepsiCo

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.