PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,198,334 shares of the company’s stock after selling 65,057 shares during the quarter. New York State Teachers Retirement System’s holdings in PepsiCo were worth $182,219,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its position in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after buying an additional 313,468 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. BNP Paribas decreased their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Up 0.4 %

Shares of PEP stock opened at $144.58 on Friday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a 50-day moving average price of $150.41 and a 200 day moving average price of $163.54. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $198.29 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

About PepsiCo

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.