Asahi Life Asset Management CO. LTD. Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Asahi Life Asset Management CO. LTD. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,615 shares of the company’s stock after selling 210 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in PepsiCo were worth $398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Collier Financial purchased a new stake in PepsiCo in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. increased its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in PepsiCo in the 4th quarter worth approximately $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in PepsiCo in the 4th quarter worth approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.0 %

Shares of PEP opened at $153.47 on Friday. The company has a market cap of $210.48 billion, a PE ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54. The business has a fifty day moving average of $148.59 and a 200 day moving average of $161.53. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period last year, the company earned $1.78 earnings per share. PepsiCo’s revenue was down .2% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PEP shares. Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Wells Fargo & Company dropped their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Barclays dropped their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.47.

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.