PepsiCo, Inc. $PEP Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the 3rd quarter, Holdings Channel reports. The fund owned 186,576 shares of the company’s stock after selling 7,495 shares during the quarter. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $26,201,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo during the first quarter worth about $25,000. Evolution Wealth Management Inc. purchased a new position in PepsiCo in the second quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its stake in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.7%

Shares of PepsiCo stock opened at $139.37 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market capitalization of $190.57 billion, a P/E ratio of 26.50, a PEG ratio of 4.49 and a beta of 0.42. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The company’s fifty day moving average is $145.54 and its two-hundred day moving average is $144.02.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. Bank of America lifted their price target on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Barclays boosted their target price on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Evercore ISI raised their price objective on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Rothschild & Co Redburn upped their target price on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Finally, Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Eight equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $158.68.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.