Whitener Capital Management Inc. Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Whitener Capital Management Inc. increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,389 shares of the company’s stock after acquiring an additional 2,447 shares during the period. PepsiCo makes up about 1.9% of Whitener Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Whitener Capital Management Inc.’s holdings in PepsiCo were worth $6,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Cross Staff Investments Inc grew its position in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. grew its position in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc grew its position in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the period. Finally, Demars Financial Group LLC grew its position in shares of PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.60.

PepsiCo Trading Up 1.2 %

PEP opened at $148.25 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company’s 50 day simple moving average is $155.37 and its two-hundred day simple moving average is $165.82. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently declared 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 3.66%. 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.