State of Alaska Department of Revenue Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

State of Alaska Department of Revenue trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 25.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,591 shares of the company’s stock after selling 68,707 shares during the quarter. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $29,892,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC raised its holdings in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.5 %

Shares of NASDAQ PEP opened at $145.66 on Thursday. The stock has a market capitalization of $199.84 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.92 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm’s 50-day moving average price is $152.49 and its 200-day moving average price is $164.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

A number of analysts have recently commented on PEP shares. UBS Group reduced their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Citigroup reduced their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Evercore ISI cut their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $171.76.

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.