State of Michigan Retirement System Sells 17,100 Shares of PepsiCo, Inc. $PEP

State of Michigan Retirement System trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 366,122 shares of the company’s stock after selling 17,100 shares during the period. State of Michigan Retirement System’s holdings in PepsiCo were worth $52,546,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Captrust Financial Advisors increased its position in shares of PepsiCo by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock worth $77,916,000 after purchasing an additional 19,218 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. boosted its position in PepsiCo by 622.3% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock valued at $5,110,000 after buying an additional 30,674 shares in the last quarter. Kathmere Capital Management LLC grew its stake in PepsiCo by 122.6% during the third quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock worth $2,860,000 after buying an additional 11,217 shares during the last quarter. Mediolanum International Funds Ltd increased its holdings in shares of PepsiCo by 19.3% during the third quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock worth $35,451,000 after buying an additional 40,947 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of PepsiCo by 96.5% in the third quarter. Townsquare Capital LLC now owns 40,383 shares of the company’s stock valued at $5,671,000 after acquiring an additional 19,829 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $155.44 on Monday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $158.61 and a 200 day simple moving average of $152.23. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The firm has a market cap of $212.45 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.85 and a beta of 0.40.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 16th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. PepsiCo has set its FY 2026 guidance at 8.465-8.628 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, March 6th. PepsiCo’s dividend payout ratio is 89.32%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group reduced their target price on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company lifted their price objective on PepsiCo from $154.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research note on Wednesday, April 8th. Citigroup increased their target price on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Barclays lifted their price target on PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $170.26.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a partnership with Google Cloud to accelerate AI across its supply chain, which could improve forecasting, reduce costs and support margins over time. PepsiCo partners with Google Cloud to boost AI supply chain
• Positive Sentiment: Management delivered a Q1 beat and is expanding Gatorade beyond traditional sports marketing — an earnings upside plus brand extension that supports near-term revenue and longer-term growth in the sports/functional beverage category. PepsiCo expands Gatorade beyond sports as Q1 earnings beat
• Positive Sentiment: PepsiCo broadened its Quaker snack lineup with Protein Rice Crisps, supporting the company’s shift into higher-growth, health-forward food SKUs that can offset soda volume pressure. PepsiCo expands Quaker portfolio with Protein Rice Crisps
• Positive Sentiment: Media pieces and screeners are flagging PEP as a defensive, “safe” stock amid geopolitical uncertainty — investor sentiment that can support multiples in volatile markets as Pepsi leans into health-focused brands and innovation. PepsiCo Inc. (PEP): Fortress for Capital Preservation Amid Geopolitical Instability
• Positive Sentiment: High-visibility promotion: Gatorade launched a global football campaign (“Is It In You?”) tied to elite athletes — a marketing push that can drive awareness and seasonal volume. GATORADE ASSERTS THERE ARE NO SHORTCUTS TO GREATNESS IN NEW ‘IS IT IN YOU?’ GLOBAL FOOTBALL CAMPAIGN
• Positive Sentiment: Celebrity/influencer attention: Jim Cramer highlighted a potentially strong upcoming Pepsi product, which can boost retail interest and short-term sentiment. Jim Cramer Reveals Potentially Hot Upcoming Pepsi Product
• Neutral Sentiment: Coverage comparing Coca‑Cola and PepsiCo reinforces the different growth profiles (Coke’s Zero Sugar momentum vs. PepsiCo’s international/foods mix) — useful for portfolio allocation but not an immediate catalyst. Got 5,000? Coca-Cola vs. PepsiCo – One Has Quietly Outperformed for a Decade
• Neutral Sentiment: Inclusion on “bear-market” and beginner-safe stock lists highlights defensive appeal; supports demand in risk-off environments but is not a near-term earnings driver. 5 Best Bear Market Stocks to Invest In Right Now
• Negative Sentiment: Analysis suggests PepsiCo’s conservative accounting may mask softer underlying results — a potential concern for investors parsing quality of earnings and near-term profit sustainability. PepsiCo’s (NASDAQ:PEP) Conservative Accounting Might Explain Soft Earnings

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.