Envestnet Asset Management Inc. Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Asset Management Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,473,794 shares of the company's stock after selling 31,379 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of PepsiCo worth $370,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at about $28,000. Elite Financial Inc. purchased a new position in PepsiCo in the first quarter worth about $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the fourth quarter worth about $30,000. Measured Risk Portfolios Inc. purchased a new position in PepsiCo in the fourth quarter worth about $31,000. Finally, Summit Securities Group LLC purchased a new position in PepsiCo in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.7%

PEP stock opened at $134.45 on Tuesday. The firm has a 50 day moving average of $131.42 and a 200 day moving average of $141.98. The stock has a market capitalization of $184.34 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.23%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. PepsiCo's payout ratio is 83.68%.

Analyst Upgrades and Downgrades

PEP has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, PepsiCo has a consensus rating of "Hold" and a consensus price target of $159.75.

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.

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