Rockefeller Capital Management L.P. Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Rockefeller Capital Management L.P. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 615,790 shares of the company’s stock after selling 10,885 shares during the period. Rockefeller Capital Management L.P.’s holdings in PepsiCo were worth $93,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in PepsiCo during the fourth quarter worth approximately $28,000. Collier Financial purchased a new position in shares of PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the fourth quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo in the fourth quarter valued at $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of PepsiCo during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEP. Morgan Stanley decreased their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $144.43 on Friday. The stock has a market capitalization of $198.06 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 1 year low of $138.33 and a 1 year high of $183.41. The stock has a fifty day moving average price of $148.37 and a two-hundred day moving average price of $155.78. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating 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 firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

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.