State of New Jersey Common Pension Fund D Sells 39,667 Shares of PepsiCo, Inc. (NASDAQ:PEP)

State of New Jersey Common Pension Fund D lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 922,321 shares of the company’s stock after selling 39,667 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of PepsiCo worth $127,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Horst & Graben Wealth Management LLC grew its position in PepsiCo by 1.1% in the 3rd quarter. Horst & Graben Wealth Management LLC now owns 6,305 shares of the company’s stock valued at $874,000 after acquiring an additional 71 shares during the last quarter. Connecticut Wealth Management LLC grew its position in PepsiCo by 2.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 3,220 shares of the company’s stock valued at $446,000 after acquiring an additional 73 shares during the last quarter. Centric Wealth Management grew its position in shares of PepsiCo by 4.7% during the 3rd quarter. Centric Wealth Management now owns 1,720 shares of the company’s stock worth $230,000 after buying an additional 77 shares in the last quarter. Cottage Street Advisors LLC grew its position in shares of PepsiCo by 0.4% during the 2nd quarter. Cottage Street Advisors LLC now owns 19,141 shares of the company’s stock worth $2,532,000 after buying an additional 78 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its position in shares of PepsiCo by 1.3% during the 2nd quarter. Strategy Asset Managers LLC now owns 5,875 shares of the company’s stock worth $777,000 after buying an additional 78 shares in the last quarter. 70.16% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PEP opened at $133.99 on Friday. PepsiCo, Inc. has a 1 year low of $101.42 and a 1 year high of $147.20. The firm has a market capitalization of $185.17 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 3.90 and a beta of 0.57. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.93 and a quick ratio of 0.77. The business’s 50 day moving average price is $137.14 and its 200-day moving average price is $134.99.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.17. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.24 billion. During the same quarter last year, the firm posted $1.56 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.

A number of equities analysts have recently issued reports on PEP shares. Morgan Stanley increased their price target on PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Jefferies Financial Group increased their price target on PepsiCo from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. BidaskClub raised PepsiCo from a “sell” rating to a “hold” rating in a research report on Thursday. Truist increased their price target on PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Finally, UBS Group increased their price target on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $144.13.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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