PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,610 shares of the company's stock after selling 34,982 shares during the period. Kovitz Investment Group Partners LLC's holdings in PepsiCo were worth $17,732,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Topsail Wealth Management LLC acquired a new position in PepsiCo during the 4th quarter valued at about $215,000. Integrated Wealth Concepts LLC lifted its stake in shares of PepsiCo by 3.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 77,130 shares of the company's stock worth $11,728,000 after buying an additional 2,405 shares during the period. Burling Wealth Partners LLC purchased a new position in PepsiCo in the 4th quarter worth $3,121,000. RiverPark Advisors LLC lifted its holdings in shares of PepsiCo by 7.4% during the fourth quarter. RiverPark Advisors LLC now owns 5,361 shares of the company's stock worth $815,000 after purchasing an additional 371 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of PepsiCo by 22.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,247,779 shares of the company's stock valued at $189,737,000 after acquiring an additional 232,000 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays cut their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday. Royal Bank of Canada restated a "sector perform" rating and issued a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley dropped their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $160.69.

PepsiCo Stock Up 0.7 %

Shares of NASDAQ PEP traded up $0.89 during mid-day trading on Wednesday, reaching $135.20. The company had a trading volume of 2,511,050 shares, compared to its average volume of 6,163,368. The firm has a 50 day simple moving average of $147.16 and a two-hundred day simple moving average of $153.24. The stock has a market cap of $185.40 billion, a P/E ratio of 19.45, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52-week low of $131.52 and a 52-week high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

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

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 4.01%. PepsiCo's dividend payout ratio is currently 79.71%.

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.