Envestnet Asset Management Inc. Has $503.01 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Envestnet Asset Management Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,049,858 shares of the company’s stock after selling 146,073 shares during the period. Envestnet Asset Management Inc.’s holdings in PepsiCo were worth $503,013,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEP. Gilbert & Cook Inc. raised its holdings in PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after buying an additional 1,133 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of PepsiCo by 4.4% during the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC grew its stake in shares of PepsiCo by 56.0% in the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after purchasing an additional 2,974 shares during the last quarter. Gryphon Financial Partners LLC raised its position in PepsiCo by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock worth $1,357,000 after purchasing an additional 3,635 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at about $43,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several analyst reports. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Barclays increased their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. TD Cowen lowered their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Royal Bank of Canada dropped their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Trading Up 0.1 %

NASDAQ PEP opened at $177.36 on Friday. The stock has a market capitalization of $243.62 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53. The business’s fifty day moving average is $172.37 and its 200-day moving average is $171.43. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter last year, the company earned $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s payout ratio is currently 78.66%.

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.