Sawgrass Asset Management LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Sawgrass Asset Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 93,616 shares of the company’s stock after selling 1,917 shares during the period. PepsiCo makes up approximately 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 11th largest holding. Sawgrass Asset Management LLC’s holdings in PepsiCo were worth $15,900,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA raised its position in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Life Planning Partners Inc bought a new position in PepsiCo during the 4th quarter valued at about $34,000. Naples Money Management LLC bought a new position in PepsiCo during the 4th quarter valued at about $36,000. Criterion Capital Advisors LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $39,000. Finally, Avion Wealth boosted its stake in shares of PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock valued at $41,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

NASDAQ PEP traded down $0.61 during mid-day trading on Wednesday, hitting $177.41. The company’s stock had a trading volume of 3,266,694 shares, compared to its average volume of 5,666,490. The firm has a market capitalization of $243.90 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. The stock’s fifty day simple moving average is $170.49 and its two-hundred day simple moving average is $168.70. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is currently 76.09%.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and an average price target of $187.42.

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.