Sawgrass Asset Management LLC Sells 5,427 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sawgrass Asset Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,856 shares of the company’s stock after selling 5,427 shares during the period. PepsiCo comprises 1.6% of Sawgrass Asset Management LLC’s holdings, making the stock its 20th biggest holding. Sawgrass Asset Management LLC’s holdings in PepsiCo were worth $14,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. AMF Tjanstepension AB grew its holdings in shares of PepsiCo by 15.8% during the third quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after purchasing an additional 40,031 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at approximately $44,000. Swedbank AB boosted its holdings in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in PepsiCo by 3.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 63,223 shares of the company’s stock valued at $10,909,000 after acquiring an additional 2,266 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its holdings in PepsiCo by 3.5% in the third quarter. Capital Advisors Wealth Management LLC now owns 5,017 shares of the company’s stock valued at $853,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.1 %

Shares of NASDAQ:PEP opened at $143.99 on Thursday. The business has a fifty day moving average price of $150.73 and a two-hundred day moving average price of $163.68. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market capitalization of $197.48 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. Analysts forecast that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.76%. PepsiCo’s payout ratio is 77.99%.

Analyst Ratings Changes

Several analysts recently commented on PEP shares. Evercore ISI reduced their target price on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Morgan Stanley dropped their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Citigroup dropped their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Barclays dropped their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Royal Bank of Canada initiated coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.47.

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.