Retirement Systems of Alabama Buys 118,983 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Retirement Systems of Alabama lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 22.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,482 shares of the company’s stock after buying an additional 118,983 shares during the quarter. Retirement Systems of Alabama’s holdings in PepsiCo were worth $111,805,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fiduciary Financial Group LLC bought a new position in shares of PepsiCo during the second quarter valued at $291,000. Pure Financial Advisors LLC grew its stake in shares of PepsiCo by 1.6% in the second quarter. Pure Financial Advisors LLC now owns 5,139 shares of the company’s stock worth $848,000 after acquiring an additional 83 shares during the period. Rovin Capital UT ADV raised its holdings in shares of PepsiCo by 88.6% during the second quarter. Rovin Capital UT ADV now owns 3,979 shares of the company’s stock valued at $656,000 after purchasing an additional 1,869 shares during the last quarter. Insight Wealth Partners LLC boosted its holdings in PepsiCo by 5.8% in the second quarter. Insight Wealth Partners LLC now owns 2,304 shares of the company’s stock worth $380,000 after purchasing an additional 127 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of PepsiCo by 29.9% during the 2nd quarter. Gradient Investments LLC now owns 4,831 shares of the company’s stock valued at $797,000 after buying an additional 1,113 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PEP shares. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $184.00 in a report on Thursday. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $184.31.

PepsiCo Stock Down 0.7 %

Shares of NASDAQ PEP opened at $157.80 on Friday. The firm has a 50-day simple moving average of $165.94 and a two-hundred day simple moving average of $169.13. The company has a market cap of $216.50 billion, a P/E ratio of 23.44, a PEG ratio of 2.92 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.43%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.