RNC Capital Management LLC Sells 8,975 Shares of PepsiCo, Inc. (NASDAQ:PEP)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at about $31,000. Rakuten Securities Inc. boosted its position in 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 buying an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC acquired a new position in PepsiCo in the third quarter valued at about $44,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ:PEP opened at $145.35 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week 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 company has a market capitalization of $199.42 billion, a PE ratio of 21.44, a PEG ratio of 2.92 and a beta of 0.54. The company has a 50 day moving average price of $152.15 and a two-hundred day moving average price of $164.39.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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 10.18% and a return on equity of 57.32%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current 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 given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEP. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada began coverage on shares of PepsiCo in a research report on Tuesday. They set a $172.00 target price on the stock. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price 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.