Teacher Retirement System of Texas Reduces Holdings in PepsiCo, Inc. (PEP)

Teacher Retirement System of Texas lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,938 shares of the company’s stock after selling 143,332 shares during the period. PepsiCo makes up about 0.7% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 19th largest holding. Teacher Retirement System of Texas owned approximately 0.07% of PepsiCo worth $114,633,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Heritage Way Advisors LLC grew its position in PepsiCo by 2.6% during the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock worth $1,913,000 after purchasing an additional 450 shares in the last quarter. R.M.SINCERBEAUX Capital Management LLC grew its position in PepsiCo by 22.5% during the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock worth $267,000 after purchasing an additional 450 shares in the last quarter. Edgemoor Investment Advisors Inc. grew its position in PepsiCo by 6.7% during the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,214 shares of the company’s stock worth $785,000 after purchasing an additional 450 shares in the last quarter. Sigma Planning Corp grew its position in PepsiCo by 1.4% during the 2nd quarter. Sigma Planning Corp now owns 32,120 shares of the company’s stock worth $3,497,000 after purchasing an additional 450 shares in the last quarter. Finally, Fragasso Group Inc. grew its position in PepsiCo by 3.4% during the 2nd quarter. Fragasso Group Inc. now owns 14,063 shares of the company’s stock worth $1,531,000 after purchasing an additional 461 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors.

Several research firms have weighed in on PEP. Morgan Stanley reiterated an “overweight” rating on shares of PepsiCo in a research report on Friday. Macquarie cut shares of PepsiCo from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $122.00 to $107.00 in a report on Friday. Deutsche Bank lowered their price target on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 3rd. BMO Capital Markets lowered their price target on shares of PepsiCo from $110.00 to $109.00 and set a “market perform” rating on the stock in a report on Wednesday, October 3rd. Finally, Citigroup lowered their price target on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $117.89.

In related news, CEO Laxman Narasimhan sold 5,500 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the sale, the chief executive officer now directly owns 130,135 shares in the company, valued at $13,897,116.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Shares of NASDAQ:PEP opened at $108.19 on Tuesday. The firm has a market capitalization of $158.12 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.63 and a beta of 0.67. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $122.51. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.24 and a quick ratio of 1.09.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.02. The firm had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. PepsiCo’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 5.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 7th were issued a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, September 6th. PepsiCo’s dividend payout ratio is presently 70.94%.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

Read More: Why is the ex-dividend date different from the record date?

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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