State of Alaska Department of Revenue Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

State of Alaska Department of Revenue raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,851 shares of the company's stock after acquiring an additional 4,260 shares during the quarter. State of Alaska Department of Revenue's holdings in PepsiCo were worth $30,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its holdings in shares of PepsiCo by 11.6% in the first quarter. CWA Asset Management Group LLC now owns 15,524 shares of the company's stock worth $2,328,000 after buying an additional 1,608 shares in the last quarter. Warner Financial Inc. purchased a new position in shares of PepsiCo during the 1st quarter worth about $248,000. PUREfi Wealth LLC grew its stake in shares of PepsiCo by 42.0% during the first quarter. PUREfi Wealth LLC now owns 3,352 shares of the company's stock valued at $503,000 after buying an additional 992 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in PepsiCo by 157.6% in the first quarter. Kingswood Wealth Advisors LLC now owns 34,539 shares of the company's stock worth $5,172,000 after purchasing an additional 21,129 shares during the period. Finally, Accelerate Investment Advisors LLC increased its stake in PepsiCo by 13.7% in the 1st quarter. Accelerate Investment Advisors LLC now owns 1,547 shares of the company's stock worth $232,000 after buying an additional 186 shares during the period. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Bank of America dropped their target price on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group lowered shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. increased their price target on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $160.69.

PepsiCo Stock Down 1.6%

Shares of PepsiCo stock opened at $129.29 on Wednesday. The stock has a market capitalization of $177.27 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.77 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The business's 50 day simple moving average is $134.13 and its 200-day simple moving average is $144.63.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.61 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.40%. 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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