SP Asset Management LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

SP Asset Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,740 shares of the company’s stock after selling 353 shares during the quarter. SP Asset Management LLC’s holdings in PepsiCo were worth $4,522,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Raymond James Financial Inc. acquired a new stake in PepsiCo in the 4th quarter valued at about $589,307,000. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. State Street Corp grew its stake in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Finally, Swedbank AB grew its stake in PepsiCo by 211.4% in the 3rd 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. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $153.88 on Thursday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a 50-day simple moving average of $148.73 and a two-hundred day simple moving average of $161.14. The firm has a market cap of $211.05 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.52%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price objective on the stock. HSBC cut their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Citigroup cut their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $171.47.

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.