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

New York Life Investment Management LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other institutional investors have also recently made changes to their positions in PEP. Buckhead Capital Management LLC grew its position in PepsiCo by 4.0% during the fourth quarter. Buckhead Capital Management LLC now owns 33,701 shares of the company’s stock valued at $5,724,000 after buying an additional 1,288 shares during the period. Howe & Rusling Inc. boosted its position in PepsiCo by 7.1% during the fourth quarter. Howe & Rusling Inc. now owns 102,342 shares of the company’s stock worth $17,382,000 after purchasing an additional 6,825 shares during the period. Orion Capital Management LLC boosted its position in PepsiCo by 4.2% during the fourth quarter. Orion Capital Management LLC now owns 2,491 shares of the company’s stock worth $423,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners boosted its position in PepsiCo by 18.4% during the fourth quarter. Concord Wealth Partners now owns 15,269 shares of the company’s stock worth $2,593,000 after purchasing an additional 2,378 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new position in PepsiCo during the fourth quarter worth about $123,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Wedbush reissued an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.42.

PepsiCo Price Performance

Shares of PEP stock traded down $0.76 during trading hours on Wednesday, hitting $175.15. 4,337,315 shares of the company’s stock were exchanged, compared to its average volume of 5,789,368. The company has a market capitalization of $240.79 billion, a PE ratio of 26.33, a PEG ratio of 2.87 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88. The business’s 50 day simple moving average is $169.74 and its 200-day simple moving average is $168.16. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (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 firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter last year, the business earned $1.50 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend 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.