PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 18.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,505,173 shares of the company’s stock after selling 560,990 shares during the period. Envestnet Asset Management Inc.’s holdings in PepsiCo were worth $380,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $2,729,565,000. Raymond James Financial Inc. acquired a new position in shares of PepsiCo in the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEP. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. HSBC reduced their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Down 3.1 %

Shares of PEP opened at $146.61 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market cap of $201.05 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. The company’s 50-day moving average price is $149.33 and its 200 day moving average price is $157.07. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.