State of Alaska Department of Revenue Sells 12,610 Shares of PepsiCo, Inc. (NASDAQ:PEP)

State of Alaska Department of Revenue trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,518 shares of the company’s stock after selling 12,610 shares during the quarter. PepsiCo accounts for 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 22nd largest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $48,218,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. LFA Lugano Financial Advisors SA lifted its position in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Fortis Group Advisors LLC lifted its position in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Life Planning Partners Inc bought a new position in PepsiCo in the fourth quarter worth $34,000. Kathleen S. Wright Associates Inc. bought a new position in PepsiCo in the first quarter worth $35,000. Finally, Naples Money Management LLC bought a new position in PepsiCo in the fourth quarter worth $36,000. 73.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $162.60 on Thursday. The business has a fifty day moving average of $172.95 and a 200-day moving average of $170.24. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a market cap of $223.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same period last year, the company earned $1.50 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PEP shares. Jefferies Financial Group increased their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Moderate Buy” and a consensus target price of $186.64.

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.