Retirement Systems of Alabama Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Retirement Systems of Alabama lifted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 38.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 410,133 shares of the company's stock after purchasing an additional 113,083 shares during the period. Retirement Systems of Alabama's holdings in PepsiCo were worth $61,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the fourth quarter valued at about $30,000. Measured Risk Portfolios Inc. bought a new position in PepsiCo during the 4th quarter worth about $31,000. Summit Securities Group LLC purchased a new position in PepsiCo during the 4th quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at about $38,000. Institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley decreased their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Barclays cut their target price 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. Finally, Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo Trading Down 0.2%

NASDAQ:PEP opened at $129.07 on Friday. The company has a market capitalization of $176.97 billion, a P/E ratio of 18.98, a PEG ratio of 3.71 and a beta of 0.45. 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, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The firm has a fifty day simple moving average of $133.50 and a 200-day simple moving average of $144.28.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 58.28% and a net margin of 10.24%. The business's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.41%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 83.68%.

PepsiCo Profile

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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