New Mexico Educational Retirement Board Has $9.61 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

New Mexico Educational Retirement Board cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,085 shares of the company’s stock after selling 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in PepsiCo were worth $9,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC grew its stake in PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Norges Bank acquired a new position in PepsiCo in the 4th quarter valued at $2,729,565,000. Northern Trust Corp grew its stake in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in PepsiCo by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock worth $2,108,585,000 after purchasing an additional 49,699 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on PEP shares. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Bank of America decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $159.75.

PepsiCo Trading Up 0.4%

Shares of PEP stock opened at $135.04 on Wednesday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company has a market capitalization of $185.15 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.21 and a beta of 0.45. The firm has a 50-day moving average price of $131.43 and a 200 day moving average price of $141.93. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.21%. PepsiCo’s payout ratio is currently 83.68%.

PepsiCo Company 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.