PepsiCo, Inc. (PEP) Holdings Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the third quarter, HoldingsChannel.com reports. The firm owned 439,185 shares of the company’s stock after selling 22,136 shares during the quarter. PepsiCo accounts for approximately 0.8% of State of Alaska Department of Revenue’s portfolio, making the stock its 13th biggest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $49,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PEP. Fundsmith Equity Fund L.P. acquired a new stake in PepsiCo during the 2nd quarter valued at approximately $836,330,000. Bank of New York Mellon Corp increased its position in PepsiCo by 20.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after purchasing an additional 3,115,305 shares during the period. Vontobel Asset Management Inc. increased its position in PepsiCo by 287.8% during the 2nd quarter. Vontobel Asset Management Inc. now owns 2,610,837 shares of the company’s stock valued at $291,915,000 after purchasing an additional 1,937,620 shares during the period. Millennium Management LLC increased its position in PepsiCo by 2,616.0% during the 1st quarter. Millennium Management LLC now owns 1,447,539 shares of the company’s stock valued at $157,999,000 after purchasing an additional 1,394,243 shares during the period. Finally, BlackRock Inc. increased its position in PepsiCo by 1.4% during the 2nd quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after purchasing an additional 1,291,012 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Shares of PEP opened at $115.41 on Monday. PepsiCo, Inc. has a 12-month low of $95.94 and a 12-month high of $122.51. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $162.91 billion, a P/E ratio of 22.07, a PEG ratio of 2.89 and a beta of 0.58.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The company had revenue of $16.49 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same period last year, the business earned $1.48 EPS. PepsiCo’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 7th will be issued a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, December 6th. PepsiCo’s dividend payout ratio is currently 70.94%.

In related news, CEO Mike Spanos sold 20,074 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the transaction, the chief executive officer now directly owns 35,520 shares in the company, valued at approximately $3,993,158.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Laxman Narasimhan sold 5,500 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the transaction, the chief executive officer now owns 130,135 shares in the company, valued at $13,897,116.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by company insiders.

PEP has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on shares of PepsiCo from $110.00 to $109.00 and set a “market perform” rating for the company in a research report on Wednesday, October 3rd. Macquarie downgraded shares of PepsiCo from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $122.00 to $107.00 in a research report on Friday, October 5th. Susquehanna Bancshares reduced their price objective on shares of PepsiCo from $136.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, September 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of PepsiCo in a research report on Friday, October 5th. Finally, Goldman Sachs Group reaffirmed a “sell” rating and set a $108.00 price objective on shares of PepsiCo in a research report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $117.89.

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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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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