RNC Capital Management LLC Sells 2,342 Shares of PepsiCo, Inc. (NASDAQ:PEP)

RNC Capital Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,441 shares of the company’s stock after selling 2,342 shares during the quarter. RNC Capital Management LLC’s holdings in PepsiCo were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of PEP. Moneta Group Investment Advisors LLC grew its position in PepsiCo by 95,514.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after acquiring an additional 42,831,405 shares during the last quarter. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter worth $2,519,707,000. Morgan Stanley lifted its holdings in shares of PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after buying an additional 4,629,947 shares during the period. Comerica Bank purchased a new stake in shares of PepsiCo in the 2nd quarter worth $360,472,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth $329,179,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut PepsiCo from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $185.00 to $176.00 in a report on Tuesday, December 19th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Barclays upped their price objective on PepsiCo from $179.00 to $183.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Royal Bank of Canada restated a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.77.

PepsiCo Trading Up 0.5 %

PepsiCo stock opened at $173.57 on Thursday. The stock has a 50-day moving average of $167.96 and a two-hundred day moving average of $167.95. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88. The stock has a market cap of $238.57 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.70 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 77.02%.

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.