PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 265,298 shares of the company’s stock after selling 10,880 shares during the period. PepsiCo accounts for approximately 0.5% of State of Alaska Department of Revenue’s holdings, making the stock its 27th largest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $45,113,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Valued Wealth Advisors LLC increased its stake in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo during the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the second quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $171.79 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $236.17 billion, a PE ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The firm’s 50 day moving average price is $173.86 and its 200 day moving average price is $172.26.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $183.92.

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.