New York State Common Retirement Fund reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,784,523 shares of the company's stock after selling 77,658 shares during the period. New York State Common Retirement Fund owned 0.13% of PepsiCo worth $267,571,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC grew its position in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. grew its position in PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after acquiring an additional 1,809,391 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in PepsiCo in the fourth quarter worth approximately $221,297,000. Finally, Vanguard Group Inc. grew its position in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on PEP shares. Barclays decreased their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. Bank of America decreased their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday. UBS Group reduced their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, PepsiCo currently has a consensus rating of "Hold" and a consensus target price of $158.19.
Read Our Latest Report on PepsiCo
PepsiCo Price Performance
PEP stock traded down $0.81 on Monday, hitting $134.45. 2,279,688 shares of the company's stock traded hands, compared to its average volume of 8,349,922. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The stock has a market cap of $184.34 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 4.23 and a beta of 0.45. The stock has a fifty day moving average of $131.49 and a 200-day moving average of $141.50. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.
PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 83.68%.
PepsiCo Company Profile
(
Free Report)
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.
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