State of Alaska Department of Revenue Has $48.22 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

State of Alaska Department of Revenue lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the first quarter, Holdings Channel.com reports. The firm owned 275,518 shares of the company’s stock after selling 12,610 shares during the quarter. PepsiCo comprises 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 22nd biggest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $48,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares during the period. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $2,686,139,000. California Public Employees Retirement System increased its stake in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the period. Franklin Resources Inc. increased its stake in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after buying an additional 1,105,127 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Stock Down 0.6 %

PEP stock opened at $162.60 on Thursday. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average is $172.95 and its 200-day moving average is $170.24. The firm has a market capitalization of $223.54 billion, a PE ratio of 24.45, a P/E/G ratio of 2.69 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the company earned $1.50 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $1.355 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

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.