State of Michigan Retirement System Boosts Stock Position in PepsiCo, Inc. $PEP

State of Michigan Retirement System lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,822 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. State of Michigan Retirement System’s holdings in PepsiCo were worth $50,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Nuveen LLC purchased a new position in shares of PepsiCo in the 1st quarter worth about $946,978,000. Kingstone Capital Partners Texas LLC purchased a new stake in PepsiCo during the 2nd quarter valued at about $460,110,000. Vanguard Group Inc. boosted its holdings in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the period. Finally, Deutsche Bank AG boosted its holdings in PepsiCo by 14.3% during the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock valued at $1,393,846,000 after acquiring an additional 1,165,745 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BNP Paribas Exane dropped their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. HSBC increased their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Citigroup dropped their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Jefferies Financial Group increased their target price on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Wells Fargo & Company increased their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Trading Down 1.0%

PEP opened at $146.09 on Friday. The business has a 50 day simple moving average of $145.80 and a two-hundred day simple moving average of $139.71. The firm has a market capitalization of $199.75 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 3.56 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $167.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

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.