New York Life Investment Management LLC Sells 409 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New York Life Investment Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,006 shares of the company’s stock after selling 409 shares during the quarter. New York Life Investment Management LLC’s holdings in PepsiCo were worth $31,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. Collier Financial bought a new stake in shares of PepsiCo in the 4th quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $31,000. Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% in the 3rd 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. Finally, Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo in the 4th quarter worth about $30,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Barclays lowered their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup lowered their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Down 3.1 %

Shares of NASDAQ PEP opened at $151.51 on Thursday. The firm’s 50-day moving average is $148.56 and its 200-day moving average is $161.80. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a market capitalization of $207.80 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm earned $1.78 EPS. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

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.