State of Alaska Department of Revenue Cuts Position in PepsiCo, Inc. $PEP

Key Points

• The State of Alaska Department of Revenue has decreased its stake in PepsiCo, Inc. by 3.4%, holding 194,071 shares worth approximately $25.6 million after selling 6,780 shares in the second quarter.
• PepsiCo's recent earnings report showed that the company surpassed analysts' expectations with $2.12 earnings per share and $22.73 billion in revenue.
• The firm declared a quarterly dividend of $1.4225 per share, representing a 4.1% yield with an ex-dividend date set for September 5.

State of Alaska Department of Revenue decreased its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 194,071 shares of the company's stock after selling 6,780 shares during the quarter. State of Alaska Department of Revenue's holdings in PepsiCo were worth $25,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. Brighton Jones LLC lifted its stake in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of PepsiCo by 52.8% in the 1st quarter. Versant Capital Management Inc now owns 6,604 shares of the company's stock worth $990,000 after buying an additional 2,281 shares during the period. Agate Pass Investment Management LLC lifted its holdings in shares of PepsiCo by 17.1% in the 1st quarter. Agate Pass Investment Management LLC now owns 22,602 shares of the company's stock worth $3,389,000 after buying an additional 3,294 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of PepsiCo by 1.5% in the 1st quarter. Moody National Bank Trust Division now owns 19,217 shares of the company's stock worth $2,881,000 after buying an additional 288 shares during the period. Finally, Sage Capital Advisors llc lifted its holdings in shares of PepsiCo by 64.1% in the 1st quarter. Sage Capital Advisors llc now owns 62,473 shares of the company's stock worth $9,367,000 after buying an additional 24,408 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Cowen reiterated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Citigroup reduced their target price on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday. Bank of America cut their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $158.13.

PepsiCo Price Performance

NASDAQ:PEP opened at $140.44 on Friday. The stock has a 50 day moving average price of $144.63 and a 200 day moving average price of $139.71. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a market cap of $192.27 billion, a PE ratio of 25.58, a P/E/G ratio of 3.53 and a beta of 0.46. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the firm posted $2.28 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued 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 is Friday, September 5th. PepsiCo's payout ratio is 103.64%.

PepsiCo Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.