Pepsico, Inc. (PEP) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its stake in Pepsico, Inc. (NYSE:PEP) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,287 shares of the company’s stock after selling 915 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Pepsico were worth $5,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Pepsico by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock worth $12,944,553,000 after purchasing an additional 2,635,738 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Pepsico by 910.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,907,923 shares of the company’s stock worth $335,840,000 after purchasing an additional 2,620,149 shares in the last quarter. Harbour Capital Advisors LLC lifted its stake in Pepsico by 11,316.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock worth $18,908,000 after purchasing an additional 2,164,557 shares in the last quarter. Sanders Capital LLC lifted its stake in Pepsico by 73.4% in the 2nd quarter. Sanders Capital LLC now owns 3,857,425 shares of the company’s stock worth $489,123,000 after purchasing an additional 1,633,325 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Pepsico by 92.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after purchasing an additional 1,593,550 shares in the last quarter. Hedge funds and other institutional investors own 70.08% of the company’s stock.

In other news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Several research firms have issued reports on PEP. Zacks Investment Research upgraded shares of Pepsico from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Deutsche Bank started coverage on shares of Pepsico in a report on Wednesday, December 13th. They issued a “buy” rating and a $132.00 price target on the stock. Susquehanna Bancshares reissued a “buy” rating and issued a $135.00 price target on shares of Pepsico in a report on Monday, October 2nd. Jefferies Group lowered shares of Pepsico from a “buy” rating to a “hold” rating and decreased their price target for the stock from $133.00 to $108.00 in a report on Monday, October 2nd. Finally, BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $122.73.

Pepsico, Inc. (NYSE PEP) opened at $119.02 on Thursday. Pepsico, Inc. has a twelve month low of $101.06 and a twelve month high of $119.74. The company has a market cap of $168,680.38, a price-to-earnings ratio of 23.17, a P/E/G ratio of 3.34 and a beta of 0.68. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32.

Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. research analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio is currently 66.53%.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/12/21/pepsico-inc-pep-shares-sold-by-sumitomo-life-insurance-co.html.

Pepsico Company Profile

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

Receive News & Ratings for Pepsico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply