Lazard Asset Management LLC Sells 111,713 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Lazard Asset Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,809 shares of the company's stock after selling 111,713 shares during the quarter. Lazard Asset Management LLC's holdings in PepsiCo were worth $52,734,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PEP. Laraway Financial Advisors Inc boosted its position in shares of PepsiCo by 11.8% during the 4th quarter. Laraway Financial Advisors Inc now owns 4,455 shares of the company's stock worth $677,000 after purchasing an additional 470 shares in the last quarter. Laurion Capital Management LP lifted its position in PepsiCo by 4,127.6% in the 4th quarter. Laurion Capital Management LP now owns 113,004 shares of the company's stock valued at $17,183,000 after acquiring an additional 110,331 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in PepsiCo in the 4th quarter valued at about $991,000. Investor s Fiduciary Advisor Network LLC bought a new position in PepsiCo in the 4th quarter valued at about $802,000. Finally, Janus Henderson Group PLC lifted its position in PepsiCo by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 352,517 shares of the company's stock valued at $53,602,000 after acquiring an additional 2,292 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

PepsiCo stock traded down $1.86 during mid-day trading on Wednesday, reaching $128.45. The company's stock had a trading volume of 10,452,154 shares, compared to its average volume of 6,342,287. PepsiCo, Inc. has a 12-month low of $127.90 and a 12-month high of $183.41. The company has a market capitalization of $176.12 billion, a P/E ratio of 18.48, a PEG ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm's fifty day moving average price is $142.28 and its two-hundred day moving average price is $150.16.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data 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). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.43%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is currently 83.68%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. UBS Group decreased their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Citigroup decreased their price objective 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $163.00 price objective on shares of PepsiCo in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.