Envestnet Portfolio Solutions Inc. Sells 27,168 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Portfolio Solutions Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,037 shares of the company's stock after selling 27,168 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PepsiCo were worth $12,451,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 worth $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. Geode Capital Management LLC lifted its position in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after acquiring an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in 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 during the period. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,729,565,000. Finally, Northern Trust Corp lifted its position in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after acquiring an additional 1,306,818 shares during the period. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Bank of America reduced their price objective on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Citigroup dropped their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Finally, Barclays dropped their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PepsiCo has an average rating of "Hold" and an average target price of $160.69.

PepsiCo Trading Down 0.2%

PEP stock opened at $129.07 on Friday. The business has a fifty day moving average price of $133.50 and a 200 day moving average price of $144.28. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The stock has a market capitalization of $176.97 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is 83.68%.

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.

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