PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 384,122 shares of the company’s stock after selling 7,100 shares during the period. State of Michigan Retirement System’s holdings in PepsiCo were worth $58,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Franklin Resources Inc. raised its holdings in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Swedbank AB lifted its position in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. Van ECK Associates Corp boosted its holdings in PepsiCo by 360.0% in the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after purchasing an additional 1,328,672 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in PepsiCo by 62.4% during the 4th quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after purchasing an additional 1,157,835 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.6 %

PEP opened at $155.99 on Tuesday. The firm has a market cap of $213.94 billion, a P/E ratio of 22.44, a PEG ratio of 3.09 and a beta of 0.54. The business’s fifty day simple moving average is $148.68 and its 200 day simple moving average is $161.33. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PEP shares. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price target on the stock. Barclays decreased their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $171.47.

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.