Teacher Retirement System of Texas Sells 1,625 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Teacher Retirement System of Texas trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 524,239 shares of the company’s stock after selling 1,625 shares during the quarter. Teacher Retirement System of Texas’ holdings in PepsiCo were worth $79,716,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in PepsiCo during the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Franklin Resources Inc. boosted its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Swedbank AB raised its position in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PEP shares. BNP Paribas reduced their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Morgan Stanley dropped their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $168.00 to $156.00 in a report on Tuesday. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $169.88.

PepsiCo Stock Down 0.6 %

Shares of PEP opened at $148.11 on Thursday. The stock’s 50-day moving average price is $148.97 and its two-hundred day moving average price is $159.50. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a market capitalization of $203.13 billion, a PE ratio of 21.31, a PEG ratio of 3.09 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion for 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 firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, March 7th. PepsiCo’s 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.