Resona Asset Management Co. Ltd. Boosts Position in PepsiCo, Inc. $PEP

Resona Asset Management Co. Ltd. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 562,959 shares of the company’s stock after acquiring an additional 27,755 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in PepsiCo were worth $74,246,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEP. Brighton Jones LLC increased its position in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Penserra Capital Management LLC grew its holdings in PepsiCo by 70.8% during the first quarter. Penserra Capital Management LLC now owns 6,128 shares of the company’s stock valued at $917,000 after purchasing an additional 2,541 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in PepsiCo by 26.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 13,895 shares of the company’s stock valued at $2,083,000 after purchasing an additional 2,907 shares during the period. Ninety One UK Ltd grew its holdings in PepsiCo by 7.9% during the first quarter. Ninety One UK Ltd now owns 97,409 shares of the company’s stock valued at $14,606,000 after purchasing an additional 7,166 shares during the period. Finally, Silverlake Wealth Management LLC grew its holdings in PepsiCo by 8.7% during the first quarter. Silverlake Wealth Management LLC now owns 2,792 shares of the company’s stock valued at $419,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. UBS Group cut their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Evercore ISI boosted their price target on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Bank of America boosted their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group upped their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $142.86 on Thursday. The stock has a 50 day moving average of $145.53 and a 200 day moving average of $139.73. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $167.41. The firm has a market cap of $195.34 billion, a PE ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.