Envestnet Asset Management Inc. Sells 560,990 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Asset Management Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,505,173 shares of the company’s stock after selling 560,990 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of PepsiCo worth $380,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Collier Financial purchased a new position in PepsiCo during the 4th quarter valued at $28,000. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 3.1 %

Shares of PEP stock opened at $146.61 on Friday. The stock’s fifty day moving average price is $149.33 and its 200 day moving average price is $157.07. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a market cap of $201.05 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. 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 (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.78 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. BNP Paribas reduced their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Profile

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.