Retirement Systems of Alabama Sells 2,526 Shares of PepsiCo, Inc. $PEP

Retirement Systems of Alabama lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,607 shares of the company’s stock after selling 2,526 shares during the period. Retirement Systems of Alabama’s holdings in PepsiCo were worth $53,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nova Wealth Management Inc. purchased a new position in PepsiCo during the first quarter valued at $25,000. Elite Financial Inc. purchased a new position in PepsiCo during the first quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the second quarter valued at $29,000. Frazier Financial Advisors LLC lifted its position in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its position in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 2.6%

Shares of PEP stock opened at $146.16 on Thursday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $167.96. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock’s 50-day moving average price is $145.90 and its 200-day moving average price is $139.68. The stock has a market capitalization of $199.85 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. Evercore ISI lifted their target price on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Barclays lifted their target price on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Citigroup lowered their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Loop Capital set a $164.00 price objective on PepsiCo in a research report on Thursday, October 23rd. Finally, HSBC boosted their price objective on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $156.95.

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.