State Board of Administration of Florida Retirement System lessened its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,074,070 shares of the company’s stock after selling 8,868 shares during the period. Pepsico accounts for approximately 0.7% of State Board of Administration of Florida Retirement System’s investment portfolio, making the stock its 28th biggest position. State Board of Administration of Florida Retirement System owned approximately 0.15% of Pepsico worth $239,534,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanders Capital LLC purchased a new stake in Pepsico during the 1st quarter valued at about $254,277,000. Harbour Capital Advisors LLC grew its stake in Pepsico by 11,316.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after acquiring an additional 2,164,557 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Pepsico by 92.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after acquiring an additional 1,593,550 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Pepsico during the 1st quarter valued at about $112,080,000. Finally, Pioneer Investment Management Inc. grew its stake in Pepsico by 19.9% during the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after acquiring an additional 733,294 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up $0.82 during trading on Monday, hitting $115.90. 1,183,000 shares of the stock traded hands, compared to its average volume of 3,655,808. Pepsico, Inc. has a twelve month low of $98.50 and a twelve month high of $119.39. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market cap of $164,826.38, a PE ratio of 22.64, a price-to-earnings-growth ratio of 3.15 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. research analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.78%. Pepsico’s dividend payout ratio (DPR) is 66.53%.
Several analysts recently issued reports on PEP shares. Cowen Inc reaffirmed a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Macquarie started coverage on shares of Pepsico in a research note on Thursday, September 14th. They set an “outperform” rating and a $125.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.35.
In other news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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