Nemes Rush Group LLC Sells 349 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Nemes Rush Group LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,881 shares of the company’s stock after selling 349 shares during the period. Nemes Rush Group LLC’s holdings in PepsiCo were worth $590,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter valued at about $2,729,565,000. Raymond James Financial Inc. acquired a new position in PepsiCo during the fourth quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Finally, Franklin Resources Inc. raised its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Citigroup decreased their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Evercore ISI cut their price objective on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada assumed coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.67 on Wednesday. The firm has a market cap of $205.27 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 3.09 and a beta of 0.52. The company has a 50-day simple moving average of $149.30 and a two-hundred day simple moving average of $157.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly 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. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued 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 3.62%. PepsiCo’s dividend payout ratio (DPR) is 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.