Ascent Group LLC Sells 6,640 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Ascent Group LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,197 shares of the company's stock after selling 6,640 shares during the quarter. Ascent Group LLC's holdings in PepsiCo were worth $5,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PEP. Putney Financial Group LLC bought a new position in shares of PepsiCo in the 4th quarter worth $179,000. Aurdan Capital Management LLC bought a new position in shares of PepsiCo in the fourth quarter valued at $455,000. PVG Asset Management Corp acquired a new position in shares of PepsiCo during the fourth quarter valued at about $317,000. Vermillion Wealth Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth about $78,000. Finally, Mackenzie Financial Corp lifted its position in PepsiCo by 2.4% in the 4th quarter. Mackenzie Financial Corp now owns 1,355,869 shares of the company's stock valued at $206,173,000 after acquiring an additional 31,875 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.70 during midday trading on Wednesday, reaching $130.67. 8,064,085 shares of the company traded hands, compared to its average volume of 6,509,879. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The firm's fifty day moving average price is $138.84 and its two-hundred day moving average price is $147.83. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $179.16 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.35%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America lowered their price objective on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Citigroup reduced their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. One equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $160.69.

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.