New Century Financial Group LLC Has $849,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

New Century Financial Group LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,150 shares of the company’s stock after purchasing an additional 571 shares during the quarter. New Century Financial Group LLC’s holdings in PepsiCo were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PEP. Jones Financial Companies Lllp boosted its holdings in PepsiCo by 5.2% during the fourth quarter. Jones Financial Companies Lllp now owns 75,965 shares of the company’s stock worth $12,902,000 after buying an additional 3,756 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in PepsiCo by 19.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,258,426 shares of the company’s stock worth $213,731,000 after acquiring an additional 205,682 shares during the last quarter. CWA Asset Management Group LLC increased its stake in PepsiCo by 34.7% in the fourth quarter. CWA Asset Management Group LLC now owns 11,230 shares of the company’s stock valued at $1,907,000 after purchasing an additional 2,893 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in PepsiCo by 14.7% in the fourth quarter. Rafferty Asset Management LLC now owns 171,462 shares of the company’s stock worth $29,121,000 after purchasing an additional 22,036 shares during the period. Finally, Hudson Edge Investment Partners Inc. boosted its position in shares of PepsiCo by 1.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 10,320 shares of the company’s stock worth $1,753,000 after purchasing an additional 180 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $185.20.

PepsiCo Stock Up 0.0 %

PEP stock opened at $170.05 on Tuesday. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The business’s 50 day simple moving average is $173.82 and its 200 day simple moving average is $172.12. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $233.78 billion, a PE ratio of 24.68, a PEG ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.

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.