North Dakota State Investment Board Invests $6.75 Million in PepsiCo, Inc. $PEP

North Dakota State Investment Board acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, HoldingsChannel reports. The firm acquired 46,997 shares of the company’s stock, valued at approximately $6,745,000.

A number of other hedge funds have also recently made changes to their positions in PEP. JCIC Asset Management Inc. bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $27,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $29,000. Imprint Wealth LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Strategic Advocates LLC purchased a new position in shares of PepsiCo in the third quarter worth $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of PepsiCo in the fourth quarter worth $33,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $149.12 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The stock has a market cap of $203.81 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The company’s fifty day moving average price is $155.25 and its 200-day moving average price is $152.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is presently 89.32%.

PepsiCo declared that its Board of Directors has initiated a share buyback program on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on PEP shares. HSBC lifted their target price on shares of PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. UBS Group decreased their target price on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Barclays lifted their target price on shares of PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $170.37.

PepsiCo Profile

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.