King Luther Capital Management Corp Sells 124,322 Shares of PepsiCo, Inc. (NASDAQ:PEP)

King Luther Capital Management Corp decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,257,060 shares of the company’s stock after selling 124,322 shares during the quarter. King Luther Capital Management Corp owned 0.09% of PepsiCo worth $191,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Collier Financial bought a new stake in PepsiCo in the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter valued at approximately $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

PEP stock opened at $156.25 on Tuesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market cap of $214.30 billion, a P/E ratio of 22.48, a PEG ratio of 3.09 and a beta of 0.52. The business’s 50-day moving average price is $148.89 and its 200-day moving average price is $160.62.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the firm earned $1.78 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PEP shares. Royal Bank of Canada started coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 target price for the company. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Morgan Stanley lowered their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.35.

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.