Titleist Asset Management LLC Sells 443 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Titleist Asset Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,112 shares of the company’s stock after selling 443 shares during the period. Titleist Asset Management LLC’s holdings in PepsiCo were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEP. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $28,000. Collier Financial bought a new stake in PepsiCo in the fourth quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at about $31,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the fourth quarter valued at about $30,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 3.1 %

NASDAQ PEP opened at $146.61 on Monday. The stock’s 50 day moving average is $149.33 and its 200 day moving average is $156.94. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $201.05 billion, a PE ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue was down .2% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued 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 3.70%. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. UBS Group dropped their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Evercore ISI decreased their price objective on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $169.88.

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.