PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,263,391 shares of the company’s stock after selling 46,005 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of PepsiCo worth $214,840,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norden Group LLC increased its holdings in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares in the last quarter. M&G Plc lifted its position in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares in the last quarter. OLD Second National Bank of Aurora boosted its holdings in PepsiCo by 32.7% in the 1st quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC grew its position in PepsiCo by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after acquiring an additional 2,976 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after purchasing an additional 5,000 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEP. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Finally, Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PepsiCo stock traded down $0.66 during midday trading on Wednesday, reaching $166.84. 339,739 shares of the stock traded hands, compared to its average volume of 5,442,356. The firm has a fifty day moving average price of $173.61 and a two-hundred day moving average price of $172.29. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm has a market cap of $229.37 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 3.20 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.