Envestnet Asset Management Inc. Sells 146,073 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Asset Management Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,049,858 shares of the company’s stock after selling 146,073 shares during the period. Envestnet Asset Management Inc. owned 0.22% of PepsiCo worth $503,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in shares of PepsiCo by 20.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 76,818 shares of the company’s stock worth $12,670,000 after purchasing an additional 13,134 shares during the period. Wrapmanager Inc. increased its position in PepsiCo by 2.7% in the 2nd quarter. Wrapmanager Inc. now owns 7,395 shares of the company’s stock worth $1,220,000 after buying an additional 192 shares during the period. Leelyn Smith LLC lifted its holdings in shares of PepsiCo by 1.0% during the second quarter. Leelyn Smith LLC now owns 15,936 shares of the company’s stock worth $2,628,000 after buying an additional 156 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in PepsiCo by 7.2% during the second quarter. Thoroughbred Financial Services LLC now owns 24,034 shares of the company’s stock worth $3,963,000 after acquiring an additional 1,622 shares during the period. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its position in PepsiCo by 26.1% in the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 17,134 shares of the company’s stock worth $2,826,000 after purchasing an additional 3,550 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.1 %

Shares of PepsiCo stock opened at $177.36 on Friday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company has a market capitalization of $243.62 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The business has a 50-day moving average of $172.37 and a two-hundred day moving average of $171.43.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PEP shares. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Morgan Stanley dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, TD Cowen decreased their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

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.