New Millennium Group LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

New Millennium Group LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 96.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 257 shares of the company’s stock after selling 7,038 shares during the quarter. New Millennium Group LLC’s holdings in PepsiCo were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. lifted its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after acquiring an additional 313,468 shares during the period. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays cut their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. UBS Group decreased their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $172.00 price objective on shares of PepsiCo in a research note on Wednesday. Finally, TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $176.73.

PepsiCo Trading Down 0.8 %

Shares of PEP stock opened at $150.69 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a 50 day moving average price of $153.35 and a 200 day moving average price of $164.97. 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 stock has a market capitalization of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54.

PepsiCo Announces Dividend

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

PepsiCo Company 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.