California Public Employees Retirement System Sells 2,132,310 Shares of PepsiCo, Inc. $PEP

California Public Employees Retirement System reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 39.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,241,048 shares of the company’s stock after selling 2,132,310 shares during the quarter. California Public Employees Retirement System’s holdings in PepsiCo were worth $503,302,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Evergreen Advisors LLC purchased a new stake in shares of PepsiCo during the first quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of PepsiCo in the fourth quarter valued at $26,000. Swiss RE Ltd. bought a new stake in shares of PepsiCo during the 4th quarter valued at $28,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo during the 4th quarter valued at $29,000. Finally, Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter worth about $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEP. Jefferies Financial Group reduced their target price on PepsiCo from $162.00 to $152.00 and set a “hold” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group increased their price target on shares of PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 17th. TD Cowen cut their price objective on shares of PepsiCo from $150.00 to $145.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Morgan Stanley decreased their target price on shares of PepsiCo from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Sanford C. Bernstein set a $134.00 target price on shares of PepsiCo in a research note on Friday, July 10th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $157.70.

PepsiCo News Roundup

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo declared a quarterly dividend of $1.48 per share, a 4% increase from a year ago, which reinforces its appeal as a steady income stock. PepsiCo Declares Quarterly Dividend
• Positive Sentiment: PepsiCo India reported robust first-half growth and said it will set up a new food manufacturing facility in Tamil Nadu, signaling continued international expansion. PepsiCo India sees robust growth in H1
• Positive Sentiment: PepsiCo’s CEO said the company remains cautiously optimistic about the second half, citing resilient demand in the face of weather-related uncertainty. PepsiCo cautiously optimistic on H2 amid robust demand
• Neutral Sentiment: PepsiCo is drawing more investor attention, but the Zacks items are mostly watchlist-style coverage rather than new fundamental news. PepsiCo, Inc. (PEP) is Attracting Investor Attention
• Neutral Sentiment: PepsiCo is pushing sustainable sourcing further, saying 70% of ingredients now come from sustainable sources and targeting 90% by 2030, which supports long-term ESG goals but is unlikely to move the stock near term. PepsiCo (PEP) Pushes Sustainable Sourcing
• Negative Sentiment: Erste Group Bank trimmed PepsiCo’s FY2026 and FY2027 earnings estimates, adding to concern that profit growth may be slower than previously expected. PepsiCo estimate cuts
• Negative Sentiment: Broader commentary that U.S. grocery unit sales are falling suggests a tougher demand backdrop for PepsiCo and other packaged-food companies. U.S. grocery unit sales falling
• Negative Sentiment: Coverage noting that PepsiCo stock is near a one-year low highlights ongoing investor concern about the company’s growth and margin outlook. Why PepsiCo’s stock is at a 1-year low

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $137.12 on Friday. The company’s fifty day moving average price is $143.53 and its 200-day moving average price is $151.21. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.74. The firm has a market capitalization of $187.15 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 3.06 and a beta of 0.36. PepsiCo, Inc. has a one year low of $134.65 and a one year high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 9th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.01. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The firm had revenue of $24.18 billion during the quarter, compared to analyst estimates of $23.95 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.58 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is presently 77.59%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.