PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by New Millennium Group LLC

New Millennium Group LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 96.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257 shares of the company’s stock after selling 7,038 shares during the period. New Millennium Group LLC’s holdings in PepsiCo were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter valued at approximately $31,000. Mattson Financial Services LLC bought a new position in PepsiCo during the 2nd quarter worth approximately $34,000. Rakuten Securities Inc. boosted its stake 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 acquiring an additional 96 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEP. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays lowered their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, UBS Group dropped their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $176.73.

PepsiCo Price Performance

Shares of PEP opened at $150.69 on Friday. The stock has a market cap of $206.75 billion, a PE ratio of 22.23, a PEG ratio of 2.91 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The business has a 50-day simple moving average of $153.35 and a two-hundred day simple moving average of $164.97.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

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.