Tokio Marine Asset Management Co. Ltd. Buys 2,341 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,237 shares of the company’s stock after acquiring an additional 2,341 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PepsiCo were worth $6,332,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. lifted its position in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares during the last quarter. Finally, Bank of Montreal Can increased its position in PepsiCo by 14.6% during the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after acquiring an additional 492,888 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock traded up $0.70 during midday trading on Thursday, hitting $165.44. The company had a trading volume of 385,640 shares, compared to its average volume of 5,425,451. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company’s 50 day simple moving average is $171.48 and its 200 day simple moving average is $171.72. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock has a market cap of $226.98 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo 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.