PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cascades Capital Asset Management LLC

Cascades Capital Asset Management LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.7% in the 4th quarter, HoldingsChannel reports. The firm owned 4,106 shares of the company’s stock after selling 391 shares during the period. Cascades Capital Asset Management LLC’s holdings in PepsiCo were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Collier Financial acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $28,000. WealthTrak Capital Management LLC purchased a new position in PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter worth $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Barclays downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Stock Performance

NASDAQ PEP opened at $146.61 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market capitalization of $201.05 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49. The business’s 50-day simple moving average is $149.33 and its 200-day simple moving average is $157.21.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $27.89 billion. During the same period in the previous year, the company posted $1.78 earnings per share. PepsiCo’s revenue was down .2% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared 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 yield of 3.70%. PepsiCo’s dividend payout ratio is currently 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.