State of Tennessee Department of Treasury Has $74.19 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

State of Tennessee Department of Treasury increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,881 shares of the company's stock after purchasing an additional 11,255 shares during the period. State of Tennessee Department of Treasury's holdings in PepsiCo were worth $74,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in PepsiCo during the fourth quarter valued at about $28,000. Collier Financial acquired a new stake in shares of PepsiCo in the fourth quarter worth $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEP. Jefferies Financial Group downgraded PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $163.00 price objective on shares of PepsiCo in a report on Tuesday. Finally, Bank of America reaffirmed a "neutral" rating and set a $155.00 target price (down previously from $185.00) on shares of PepsiCo in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $167.24.

PepsiCo Stock Down 0.8 %

PEP stock traded down $1.19 during midday trading on Wednesday, hitting $142.27. The company's stock had a trading volume of 7,747,503 shares, compared to its average volume of 6,107,278. PepsiCo, Inc. has a twelve month low of $138.33 and a twelve month high of $183.41. The stock has a market capitalization of $195.09 billion, a P/E ratio of 20.47, a PEG ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company's fifty day moving average price is $148.10 and its 200 day moving average price is $154.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analysts' expectations of $27.89 billion. During the same period in the prior year, the firm earned $1.78 EPS. PepsiCo's quarterly revenue was down .2% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio is 77.99%.

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.