State of New Jersey Common Pension Fund D Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in PepsiCo by 8.3%, now holding 464,661 shares valued at about $69.67 million.
• PepsiCo's recent quarterly earnings showed a profit of $2.12 EPS, exceeding analysts' expectations of $2.03 EPS, with revenues of $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, yielding 3.8%, with an ex-dividend date set for September 5th.

State of New Jersey Common Pension Fund D cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,661 shares of the company's stock after selling 41,893 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in PepsiCo were worth $69,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Elite Financial Inc. acquired a new position in PepsiCo during the 1st quarter worth about $28,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter worth about $31,000. Bridge Generations Wealth Management LLC acquired a new position in PepsiCo during the 4th quarter worth about $38,000. GKV Capital Management Co. Inc. acquired a new position in PepsiCo during the 4th quarter worth about $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo during the 4th quarter worth about $47,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays increased their price target on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Bank of America reduced their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $158.73.

PepsiCo Trading Down 0.5%

NASDAQ:PEP opened at $148.62 on Friday. The stock's 50 day moving average price is $136.99 and its 200 day moving average price is $140.63. The company has a market capitalization of $203.47 billion, a PE ratio of 27.07, a P/E/G ratio of 3.98 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) 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.

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