Magnolia Capital Management Ltd. Sells 296 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Magnolia Capital Management Ltd. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,516 shares of the company’s stock after selling 296 shares during the period. PepsiCo makes up 0.7% of Magnolia Capital Management Ltd.’s investment portfolio, making the stock its 28th biggest holding. Magnolia Capital Management Ltd.’s holdings in PepsiCo were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter valued at approximately $31,000. Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% in the third 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 period. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter worth $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $144.78 on Thursday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. 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 $198.64 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The firm’s 50-day simple moving average is $156.46 and its 200-day simple moving average is $166.20.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several research analysts recently commented on PEP shares. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $180.64.

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.