New Century Financial Group LLC Sells 9,160 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New Century Financial Group LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 75.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,932 shares of the company’s stock after selling 9,160 shares during the period. New Century Financial Group LLC’s holdings in PepsiCo were worth $439,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Apeiron RIA LLC grew its position in shares of PepsiCo by 25.8% in the fourth quarter. Apeiron RIA LLC now owns 5,277 shares of the company’s stock valued at $802,000 after purchasing an additional 1,082 shares during the last quarter. Secure Asset Management LLC boosted its stake in PepsiCo by 31.8% during the 4th quarter. Secure Asset Management LLC now owns 3,546 shares of the company’s stock valued at $539,000 after purchasing an additional 855 shares during the period. Red Door Wealth Management LLC increased its position in PepsiCo by 7.8% in the 4th quarter. Red Door Wealth Management LLC now owns 35,436 shares of the company’s stock worth $5,388,000 after buying an additional 2,568 shares during the period. Trust Co. of Oklahoma lifted its holdings in shares of PepsiCo by 2.9% during the fourth quarter. Trust Co. of Oklahoma now owns 28,269 shares of the company’s stock worth $4,299,000 after buying an additional 799 shares during the last quarter. Finally, Peterson Wealth Advisors LLC grew its stake in shares of PepsiCo by 16.4% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,395 shares of the company’s stock worth $209,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $149.12 on Friday. The business’s fifty day moving average is $154.07 and its two-hundred day moving average is $165.40. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $204.59 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $177.00.

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.