New York Life Investment Management LLC Has $36.54 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

New York Life Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,114 shares of the company’s stock after selling 11,849 shares during the quarter. New York Life Investment Management LLC’s holdings in PepsiCo were worth $36,535,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Buckhead Capital Management LLC lifted its stake in PepsiCo by 4.0% in the fourth quarter. Buckhead Capital Management LLC now owns 33,701 shares of the company’s stock valued at $5,724,000 after acquiring an additional 1,288 shares during the last quarter. Howe & Rusling Inc. lifted its stake in shares of PepsiCo by 7.1% during the 4th quarter. Howe & Rusling Inc. now owns 102,342 shares of the company’s stock worth $17,382,000 after buying an additional 6,825 shares during the last quarter. Orion Capital Management LLC lifted its stake in shares of PepsiCo by 4.2% during the 4th quarter. Orion Capital Management LLC now owns 2,491 shares of the company’s stock worth $423,000 after buying an additional 100 shares during the last quarter. Concord Wealth Partners lifted its stake in shares of PepsiCo by 18.4% during the 4th quarter. Concord Wealth Partners now owns 15,269 shares of the company’s stock worth $2,593,000 after buying an additional 2,378 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth about $123,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, Barclays raised their target price on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Price Performance

Shares of PEP traded down $0.76 during mid-day trading on Wednesday, reaching $175.15. The company had a trading volume of 4,337,315 shares, compared to its average volume of 5,789,368. The company’s 50 day simple moving average is $169.74 and its 200 day simple moving average is $168.16. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company has a market capitalization of $240.79 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.87 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same period last year, the company earned $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.09%. PepsiCo’s dividend payout ratio (DPR) is currently 76.09%.

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.