Employees Retirement System of Texas Makes New Investment in PepsiCo, Inc. $PEP

Employees Retirement System of Texas bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, Holdings Channel reports. The firm bought 11,071 shares of the company’s stock, valued at approximately $1,462,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after acquiring an additional 1,761,785 shares during the period. Geode Capital Management LLC raised its stake in PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after purchasing an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares during the period. Franklin Resources Inc. grew its position in shares of PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after purchasing an additional 2,541,455 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after purchasing an additional 208,292 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several recent research reports. BNP Paribas Exane cut their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Citigroup cut their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Piper Sandler decreased their price target on PepsiCo from $162.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Barclays upped their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $156.90.

PepsiCo Stock Up 1.3%

Shares of NASDAQ PEP opened at $147.98 on Friday. The stock has a 50-day moving average price of $145.87 and a two-hundred day moving average price of $140.90. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $165.13. 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 company has a market cap of $202.34 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 EPS. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

About PepsiCo

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.