State of New Jersey Common Pension Fund D Buys 867 Shares of PepsiCo, Inc. (NASDAQ:PEP)

State of New Jersey Common Pension Fund D lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 507,644 shares of the company’s stock after acquiring an additional 867 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PepsiCo were worth $86,325,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. Swedbank AB lifted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. boosted its position in PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the period. Legal & General Group Plc grew its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $151,749,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

PepsiCo stock traded up $1.11 during midday trading on Friday, reaching $165.11. 4,618,265 shares of the company traded hands, compared to its average volume of 5,463,349. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The firm has a market capitalization of $226.53 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The business has a 50 day moving average of $172.19 and a two-hundred day moving average of $171.98.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. As a group, research analysts predict 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.