Retirement Systems of Alabama Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Retirement Systems of Alabama lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 54.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 297,050 shares of the company’s stock after selling 360,432 shares during the period. Retirement Systems of Alabama’s holdings in PepsiCo were worth $45,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cross Staff Investments Inc boosted its stake in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares during the last quarter. LCM Capital Management Inc boosted its stake in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the last quarter. Demars Financial Group LLC boosted its stake in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares during the last quarter. Finally, Sigma Investment Counselors Inc. boosted its stake in PepsiCo by 1.6% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $143.49 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $152.86 and its two-hundred day simple moving average is $164.71. The stock has a market cap of $196.87 billion, a PE ratio of 21.16, a P/E/G ratio of 2.92 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. UBS Group dropped their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $174.53.

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.