State of Alaska Department of Revenue grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 80.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,490 shares of the company’s stock after purchasing an additional 134,001 shares during the quarter. PepsiCo makes up approximately 0.9% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 14th largest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $36,031,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of PepsiCo in the fourth quarter valued at about $201,000. Bouchey Financial Group Ltd acquired a new position in shares of PepsiCo in the fourth quarter valued at about $214,000. Oakmont Partners LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $220,000. KCS Wealth Advisory acquired a new position in shares of PepsiCo in the fourth quarter valued at about $239,000. Finally, White Lighthouse Investment Management Inc. acquired a new position in shares of PepsiCo in the fourth quarter valued at about $240,000. 70.93% of the stock is currently owned by institutional investors.
Shares of PepsiCo, Inc. (NASDAQ PEP) opened at $112.75 on Tuesday. The stock has a market cap of $160,090.00, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.68 and a beta of 0.69. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.37 and a current ratio of 1.51. PepsiCo, Inc. has a one year low of $106.19 and a one year high of $122.51.
PepsiCo announced that its board has authorized a share repurchase plan on Tuesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.86%. PepsiCo’s payout ratio is currently 63.26%.
Several equities analysts recently commented on the stock. TheStreet downgraded shares of PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. SunTrust Banks decreased their price target on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Jefferies Group restated a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a research note on Tuesday, February 13th. Finally, Susquehanna Bancshares increased their price objective on shares of PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PepsiCo has a consensus rating of “Hold” and a consensus target price of $123.04.
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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).
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