New Mexico Educational Retirement Board Sells 4,400 Shares of PepsiCo, Inc. (PEP)

New Mexico Educational Retirement Board trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 131,085 shares of the company’s stock after selling 4,400 shares during the period. New Mexico Educational Retirement Board’s holdings in PepsiCo were worth $14,271,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Heritage Way Advisors LLC boosted its position in shares of PepsiCo by 2.6% in the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock worth $1,913,000 after purchasing an additional 450 shares during the last quarter. R.M.SINCERBEAUX Capital Management LLC boosted its position in shares of PepsiCo by 22.5% in the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock worth $267,000 after purchasing an additional 450 shares during the last quarter. Investment House LLC boosted its position in shares of PepsiCo by 0.8% in the 2nd quarter. Investment House LLC now owns 59,730 shares of the company’s stock worth $6,503,000 after purchasing an additional 471 shares during the last quarter. Thompson Investment Management Inc. boosted its position in shares of PepsiCo by 1.4% in the 2nd quarter. Thompson Investment Management Inc. now owns 33,809 shares of the company’s stock worth $3,681,000 after purchasing an additional 480 shares during the last quarter. Finally, Trust Co. of Toledo NA OH boosted its position in shares of PepsiCo by 1.1% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 45,803 shares of the company’s stock worth $4,986,000 after purchasing an additional 484 shares during the last quarter. Institutional investors and hedge funds own 70.40% of the company’s stock.

Several research analysts have weighed in on PEP shares. TheStreet upgraded PepsiCo from a “c+” rating to a “b-” rating in a report on Friday, July 6th. Cfra set a $129.00 target price on PepsiCo and gave the stock a “buy” rating in a report on Tuesday, July 10th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Morgan Stanley lifted their target price on PepsiCo from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Finally, JPMorgan Chase & Co. set a $128.00 target price on PepsiCo and gave the stock a “buy” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $119.50.

PEP opened at $114.91 on Monday. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $122.51. The stock has a market capitalization of $162.52 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.08. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The firm had revenue of $16.09 billion for the quarter, compared to the consensus estimate of $16.05 billion. During the same quarter last year, the business posted $1.50 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts expect that PepsiCo, Inc. will post 5.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be paid a $0.9275 dividend. This represents a $3.71 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, September 6th. PepsiCo’s dividend payout ratio is 70.94%.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

Further Reading: Understanding Analyst Ratings

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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