Sterling Capital Management LLC Sells 96,308 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sterling Capital Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 739,534 shares of the company's stock after selling 96,308 shares during the period. PepsiCo accounts for approximately 1.5% of Sterling Capital Management LLC's portfolio, making the stock its 14th biggest position. Sterling Capital Management LLC owned about 0.05% of PepsiCo worth $112,454,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Collier Financial acquired a new position in PepsiCo during the fourth quarter worth $28,000. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo during the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. HSBC dropped their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a report on Friday, January 24th. Evercore ISI cut their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of PepsiCo from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $168.12.

Remove Ads

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $3.24 on Tuesday, hitting $143.51. The stock had a trading volume of 2,324,556 shares, compared to its average volume of 6,071,014. PepsiCo, Inc. has a twelve month low of $138.33 and a twelve month high of $183.41. The company has a market capitalization of $196.80 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. The firm's 50 day moving average price is $148.39 and its 200-day moving average price is $155.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the company earned $1.78 EPS. PepsiCo's revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. 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 3.78%. PepsiCo's payout ratio is 77.99%.

PepsiCo Company 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.