PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Zacks Investment Management

Zacks Investment Management trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,304 shares of the company's stock after selling 88,201 shares during the quarter. Zacks Investment Management's holdings in PepsiCo were worth $90,218,000 at the end of the most recent quarter.

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

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $2.75 during mid-day trading on Friday, reaching $142.84. The company's stock had a trading volume of 6,052,161 shares, compared to its average volume of 6,110,283. 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. The stock has a fifty day moving average of $148.22 and a two-hundred day moving average of $155.14. The firm has a market capitalization of $195.88 billion, a PE ratio of 20.55, a P/E/G ratio of 3.09 and a beta of 0.49.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. PepsiCo's dividend payout ratio is currently 77.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PEP shares. Citigroup cut their price objective on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. Evercore ISI lowered their price target on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Morgan Stanley dropped their price objective on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Finally, TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $168.12.

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.