Russell Investments Group Ltd. Sells 64,673 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Russell Investments Group Ltd. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,399,739 shares of the company’s stock after selling 64,673 shares during the quarter. PepsiCo comprises about 0.4% of Russell Investments Group Ltd.’s holdings, making the stock its 27th biggest holding. Russell Investments Group Ltd.’s holdings in PepsiCo were worth $237,671,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LFA Lugano Financial Advisors SA lifted its position in PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares during the last quarter. Life Planning Partners Inc purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $34,000. Naples Money Management LLC purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $36,000. Criterion Capital Advisors LLC purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $39,000. Finally, Avion Wealth raised its stake in shares of PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after acquiring an additional 92 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Down 0.6 %

Shares of PEP stock traded down $1.10 during mid-day trading on Friday, reaching $175.58. 4,472,102 shares of the company’s stock traded hands, compared to its average volume of 5,365,961. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The company has a market cap of $241.39 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.88 and a beta of 0.53. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $169.40 and its 200-day moving average price is $167.86.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the business posted $1.50 EPS. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 76.09%.

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.