Retirement Systems of Alabama lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 458,377 shares of the company’s stock after acquiring an additional 237 shares during the quarter. Retirement Systems of Alabama’s holdings in PepsiCo were worth $76,723,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. SevenBridge Financial Group LLC grew its stake in shares of PepsiCo by 77.7% during the 1st quarter. SevenBridge Financial Group LLC now owns 35,990 shares of the company’s stock valued at $6,024,000 after acquiring an additional 15,740 shares during the period. First American Trust FSB grew its stake in shares of PepsiCo by 9.0% during the 1st quarter. First American Trust FSB now owns 4,817 shares of the company’s stock valued at $806,000 after acquiring an additional 398 shares during the period. Osher Van de Voorde Investment Management boosted its stake in PepsiCo by 3.1% in the 1st quarter. Osher Van de Voorde Investment Management now owns 101,725 shares of the company’s stock worth $17,027,000 after purchasing an additional 3,065 shares during the period. Vigilant Capital Management LLC boosted its stake in PepsiCo by 0.6% in the 1st quarter. Vigilant Capital Management LLC now owns 161,513 shares of the company’s stock worth $27,034,000 after purchasing an additional 903 shares during the period. Finally, TCW Group Inc. boosted its stake in PepsiCo by 44.3% in the 4th quarter. TCW Group Inc. now owns 440,689 shares of the company’s stock worth $76,553,000 after purchasing an additional 135,394 shares during the period. Institutional investors own 72.12% of the company’s stock.
PEP has been the subject of several recent analyst reports. UBS Group dropped their price target on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Citigroup raised their price target on PepsiCo from $194.00 to $198.00 in a research note on Wednesday, April 27th. JPMorgan Chase & Co. raised their price target on PepsiCo from $183.00 to $186.00 in a research note on Wednesday, April 27th. Guggenheim raised their price target on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 27th. Finally, Credit Suisse Group increased their target price on PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.13.
NASDAQ:PEP opened at $169.39 on Friday. The stock’s fifty day moving average is $166.28 and its 200 day moving average is $167.94. PepsiCo, Inc. has a fifty-two week low of $147.77 and a fifty-two week high of $177.62. The firm has a market capitalization of $234.21 billion, a PE ratio of 23.17, a PEG ratio of 3.30 and a beta of 0.59. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.68 and a current ratio of 0.87.
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.54 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. PepsiCo’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 6.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 3rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, June 2nd. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio is currently 62.93%.
In other PepsiCo news, EVP David Flavell sold 5,150 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.11, for a total value of $901,816.50. Following the sale, the executive vice president now owns 28,275 shares in the company, valued at $4,951,235.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eugene Willemsen sold 4,560 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.61, for a total value of $800,781.60. Following the completion of the sale, the chief executive officer now owns 8,277 shares in the company, valued at approximately $1,453,523.97. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.
PepsiCo Company Profile: (Get Rating)
PepsiCo, Inc. manufactures, markets, distributes, and sells 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.
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