New Capital Management LP Sells 135 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New Capital Management LP lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,170 shares of the company’s stock after selling 135 shares during the quarter. PepsiCo makes up about 2.6% of New Capital Management LP’s investment portfolio, making the stock its 9th largest position. New Capital Management LP’s holdings in PepsiCo were worth $8,845,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. TD Cowen cut 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. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Price Performance

NASDAQ:PEP traded up $2.00 during trading hours on Monday, reaching $144.64. 3,539,900 shares of the company were exchanged, compared to its average volume of 6,714,237. The company has a market capitalization of $198.44 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business has a 50 day moving average of $157.35 and a 200 day moving average of $166.50.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

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.