New Mexico Educational Retirement Board Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

New Mexico Educational Retirement Board lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 65,485 shares of the company’s stock after selling 1,700 shares during the period. New Mexico Educational Retirement Board’s holdings in PepsiCo were worth $9,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in shares of PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PEP. JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada assumed coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 target price for the company. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Barclays cut their price objective on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup cut their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

Shares of PEP opened at $143.39 on Friday. The stock has a 50-day simple moving average of $150.09 and a 200-day simple moving average of $163.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The stock has a market capitalization of $196.66 billion, a PE ratio of 20.63, a PEG ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

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.