Azimuth Capital Investment Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Azimuth Capital Investment Management LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 179,535 shares of the company's stock after selling 3,387 shares during the period. PepsiCo accounts for approximately 1.1% of Azimuth Capital Investment Management LLC's portfolio, making the stock its 16th largest position. Azimuth Capital Investment Management LLC's holdings in PepsiCo were worth $27,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Collier Financial purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo during the 4th quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PEP shares. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. CICC Research restated a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Jefferies Financial Group lowered shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, BNP Paribas dropped their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $169.88.

Remove Ads

PepsiCo Trading Up 0.2 %

PEP stock traded up $0.29 during trading on Friday, reaching $144.43. 8,560,319 shares of the stock traded hands, compared to its average volume of 6,088,216. The business's 50 day moving average price is $148.37 and its 200-day moving average price is $155.68. The firm has a market capitalization of $198.06 billion, a PE ratio of 20.78, a P/E/G ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 52-week low of $138.33 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 earnings per share. PepsiCo's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo's dividend payout ratio (DPR) 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.