Envestnet Portfolio Solutions Inc. Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Portfolio Solutions Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,205 shares of the company’s stock after selling 42,736 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in PepsiCo were worth $16,758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEP. Collier Financial purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo during the fourth quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter valued at $31,000. Bay Harbor Wealth Management LLC bought a new stake in shares of PepsiCo in the 4th quarter worth about $34,000. Finally, Human Investing LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $39,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEP shares. UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, Citigroup cut their price target 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $170.59.

PepsiCo Stock Performance

Shares of PEP opened at $148.59 on Monday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a fifty day moving average price of $148.76 and a 200-day moving average price of $159.89. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market cap of $203.79 billion, a PE ratio of 21.38, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter last year, the company earned $1.78 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio is currently 77.99%.

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.