Retirement Systems of Alabama Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Retirement Systems of Alabama increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,482 shares of the company's stock after buying an additional 118,983 shares during the quarter. Retirement Systems of Alabama's holdings in PepsiCo were worth $111,805,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Meixler Investment Management Ltd. lifted its holdings in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock worth $228,000 after acquiring an additional 58 shares in the last quarter. Opes Wealth Management LLC lifted its holdings in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock valued at $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares during the period. Bank of Stockton raised its holdings in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company's stock worth $448,000 after buying an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its stake in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock valued at $1,481,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PEP shares. TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley cut shares of 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. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a report on Friday, October 4th. Finally, Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $184.31.

PepsiCo Stock Performance

PepsiCo stock traded down $0.93 during mid-day trading on Friday, reaching $157.97. The company's stock had a trading volume of 4,353,746 shares, compared to its average volume of 5,509,925. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41. The firm's fifty day moving average price is $165.94 and its two-hundred day moving average price is $169.13. 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 company has a market capitalization of $216.73 billion, a P/E ratio of 23.44, a PEG ratio of 2.92 and a beta of 0.52.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The company 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%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is currently 79.94%.

About PepsiCo

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.