PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,856 shares of the company’s stock after selling 5,427 shares during the period. PepsiCo makes up 1.6% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 20th largest position. Sawgrass Asset Management LLC’s holdings in PepsiCo were worth $14,272,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cross Staff Investments Inc lifted its holdings in PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. lifted its holdings in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc lifted its holdings in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares during the last quarter. Demars Financial Group LLC raised its holdings in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares during the period. Finally, Sigma Investment Counselors Inc. lifted its position in PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock worth $733,000 after purchasing an additional 66 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. BNP Paribas dropped their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Down 1.1 %

Shares of PepsiCo stock opened at $143.99 on Thursday. The business’s 50 day simple moving average is $150.73 and its 200 day simple moving average is $163.68. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market cap of $197.48 billion, a PE ratio of 20.72, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for 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 for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. 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 dividend payout ratio (DPR) is presently 77.99%.

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.