RNC Capital Management LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

RNC Capital Management LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,124 shares of the company’s stock after selling 8,975 shares during the period. RNC Capital Management LLC’s holdings in PepsiCo were worth $4,581,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PEP. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the third quarter valued at about $31,000. Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter worth about $44,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ:PEP opened at $145.35 on Friday. The firm has a fifty day moving average of $152.15 and a two-hundred day moving average of $164.39. The firm has a market capitalization of $199.42 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.92 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 (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.73%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEP. BNP Paribas reduced their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday. HSBC reduced their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $171.47.

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.