California Public Employees Retirement System Has $725.03 Million Stake in PepsiCo, Inc. $PEP

California Public Employees Retirement System lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,490,959 shares of the company’s stock after selling 1,664,276 shares during the quarter. California Public Employees Retirement System owned about 0.40% of PepsiCo worth $725,026,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Nova Wealth Management Inc. bought a new stake in PepsiCo during the 1st quarter worth about $25,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo during the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares during the last quarter. Frazier Financial Advisors LLC increased its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PEP shares. Wells Fargo & Company lifted their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, November 28th. The Goldman Sachs Group boosted their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Rothschild & Co Redburn raised their target price on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research note on Monday, October 13th. Finally, Barclays boosted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $156.90.

PepsiCo Stock Performance

Shares of PEP stock opened at $145.02 on Friday. The stock has a market cap of $198.29 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 4.97 and a beta of 0.42. The stock has a 50-day moving average of $146.66 and a 200-day moving average of $141.67. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $161.50.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.31 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

PepsiCo Company Profile

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.