PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 506,554 shares of the company’s stock after selling 1,090 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PepsiCo were worth $77,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PEP. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $28,000. Collier Financial acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. Finally, Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Evercore ISI decreased their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. BNP Paribas decreased their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.8 %

NASDAQ:PEP opened at $143.39 on Monday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The firm has a market cap of $196.66 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company’s 50 day moving average is $149.80 and its 200-day moving average is $163.13.

PepsiCo (NASDAQ:PEP) last released 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. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) 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.