PepsiCo, Inc. (NASDAQ:PEP) Stock Position Reduced by New Century Financial Group LLC

New Century Financial Group LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 75.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,932 shares of the company’s stock after selling 9,160 shares during the quarter. New Century Financial Group LLC’s holdings in PepsiCo were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the 2nd quarter worth about $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.3 %

Shares of NASDAQ PEP opened at $149.12 on Friday. The business has a fifty day simple moving average of $154.07 and a 200-day simple moving average of $165.40. The company has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. UBS Group lowered their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $177.00.

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.