PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,107 shares of the company’s stock after acquiring an additional 240 shares during the period. Texas Permanent School Fund Corp’s holdings in PepsiCo were worth $49,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Silver Oak Securities Incorporated lifted its stake in shares of PepsiCo by 17.7% in the third quarter. Silver Oak Securities Incorporated now owns 2,583 shares of the company’s stock valued at $438,000 after purchasing an additional 389 shares during the period. Tompkins Financial Corp grew its holdings in shares of PepsiCo by 8.2% in the 3rd quarter. Tompkins Financial Corp now owns 55,917 shares of the company’s stock worth $9,475,000 after acquiring an additional 4,254 shares during the period. Carlson Capital Management increased its stake in PepsiCo by 6.8% in the 3rd quarter. Carlson Capital Management now owns 5,434 shares of the company’s stock valued at $921,000 after purchasing an additional 348 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in PepsiCo during the third quarter worth $7,505,000. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of PepsiCo during the 3rd quarter worth $3,211,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEP. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays reduced their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. TD Cowen cut their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Wedbush reiterated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, Bank of America decreased their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.00.

PepsiCo Trading Up 0.2 %

Shares of PepsiCo stock traded up $0.36 during trading hours on Thursday, reaching $163.95. The stock had a trading volume of 10,258,744 shares, compared to its average volume of 5,524,253. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The firm has a market capitalization of $225.40 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.67 and a beta of 0.52. The firm has a 50 day simple moving average of $171.36 and a two-hundred day simple moving average of $170.03.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 earnings per share. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 81.50%.

Insider Activity

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

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.