NorthCrest Asset Manangement LLC Sells 110 Shares of PepsiCo, Inc. (NASDAQ:PEP)

NorthCrest Asset Manangement LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,141 shares of the company’s stock after selling 110 shares during the period. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $19,181,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEP. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the period. Janus Henderson Group PLC raised its holdings in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the last quarter. IHT Wealth Management LLC lifted its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC bought a new stake in shares of PepsiCo during the third quarter worth approximately $527,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Down 3.1 %

Shares of PEP stock traded down $4.55 on Friday, hitting $141.99. 2,983,045 shares of the stock were exchanged, compared to its average volume of 6,092,107. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $194.81 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a fifty-two week low of $141.97 and a fifty-two week high of $183.41. The business has a 50-day moving average of $157.81 and a 200 day moving average of $166.68.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.82%. PepsiCo’s dividend payout ratio is 79.94%.

PepsiCo Company 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.