Retirement Systems of Alabama Sells 360,432 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Retirement Systems of Alabama trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 54.8% during the 4th quarter, HoldingsChannel reports. The firm owned 297,050 shares of the company’s stock after selling 360,432 shares during the quarter. Retirement Systems of Alabama’s holdings in PepsiCo were worth $45,169,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. State Street Corp grew its position in PepsiCo by 5.1% in the third 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 in the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB grew its position in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PEP shares. JPMorgan Chase & Co. dropped their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. HSBC dropped their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $174.53.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $143.49 on Wednesday. The company has a market capitalization of $196.87 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth 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. 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 firm has a 50 day moving average of $152.86 and a 200 day moving average of $164.71.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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

PepsiCo 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.