The Mizuho Trust & Banking Co. Ltd. Increases Stake in PepsiCo Inc. (PEP)

The Mizuho Trust & Banking Co. Ltd. Increases Stake in PepsiCo Inc. (PEP)

Mizuho Trust & Banking Co. Ltd. increased its position in PepsiCo Inc. (NYSE:PEP) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,344,914 shares of the company’s stock after buying an additional 12,479 shares during the period. PepsiCo makes up about 0.8% of Mizuho Trust & Banking Co. Ltd.’s investment portfolio, making the stock its 26th largest position. Mizuho Trust & Banking Co. Ltd.’s holdings in PepsiCo were worth $248,420,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock valued at $2,222,902,000 after buying an additional 6,297,861 shares during the period. Bank of Montreal Can acquired a new stake in shares of PepsiCo during the second quarter valued at approximately $519,379,000. Renaissance Technologies LLC boosted its stake in shares of PepsiCo by 108.4% in the first quarter. Renaissance Technologies LLC now owns 3,729,062 shares of the company’s stock valued at $382,154,000 after buying an additional 1,940,000 shares during the period. State Street Corp boosted its stake in shares of PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock valued at $5,954,891,000 after buying an additional 860,005 shares during the period. Finally, Svenska Handelsbanken AB publ boosted its stake in shares of PepsiCo by 5,341.9% in the second quarter. Svenska Handelsbanken AB publ now owns 815,737 shares of the company’s stock valued at $86,419,000 after buying an additional 800,747 shares during the period. 70.04% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Inc. (NYSE:PEP) traded up 0.41% on Friday, hitting $107.07. 3,378,934 shares of the company were exchanged. The stock has a market capitalization of $153.56 billion, a P/E ratio of 23.49 and a beta of 0.46. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The stock’s 50-day moving average price is $106.51 and its 200-day moving average price is $105.70.

PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The business had revenue of $16 billion for the quarter. During the same quarter in the prior year, the company posted $1.35 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo Inc. will post $4.81 earnings per share for the current fiscal year.

Several equities research analysts have commented on PEP shares. Vetr raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target on the stock in a research report on Wednesday, September 7th. Deutsche Bank AG boosted their price target on shares of PepsiCo from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 8th. Jefferies Group reissued a “buy” rating and set a $124.00 price target (up from $119.00) on shares of PepsiCo in a research report on Wednesday, July 6th. Argus boosted their price target on shares of PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, July 13th. Finally, Bank of America Corp. reissued a “buy” rating and set a $120.00 price target on shares of PepsiCo in a research report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $113.68.

About PepsiCo

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

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