New York State Common Retirement Fund Has $230.42 Million Stock Position in PepsiCo, Inc. $PEP

New York State Common Retirement Fund reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,640,712 shares of the company’s stock after selling 110,956 shares during the period. New York State Common Retirement Fund’s holdings in PepsiCo were worth $230,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. JCIC Asset Management Inc. acquired a new stake in PepsiCo during the 3rd quarter worth approximately $27,000. Evolution Wealth Management Inc. bought a new position in PepsiCo during the 2nd quarter worth $27,000. Vermillion & White Wealth Management Group LLC increased its position in PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Jefferies Financial Group increased their target price on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Rothschild & Co Redburn lifted their price target on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. Loop Capital set a $164.00 price target on PepsiCo in a research report on Thursday, October 23rd. Finally, Exane BNP Paribas raised PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.50 on Thursday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The stock has a market capitalization of $203.05 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company’s 50 day simple moving average is $145.74 and its 200 day simple moving average is $145.30.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.