PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,463 shares of the company’s stock after selling 328 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in PepsiCo were worth $3,112,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. increased its stake in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEP. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $150.25 on Wednesday. The company has a fifty day moving average of $153.81 and a two-hundred day moving average of $165.28. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market capitalization of $206.14 billion, a PE ratio of 22.16, a P/E/G ratio of 2.86 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.