Whitener Capital Management Inc. Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Whitener Capital Management Inc. increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,389 shares of the company’s stock after buying an additional 2,447 shares during the period. PepsiCo accounts for about 1.9% of Whitener Capital Management Inc.’s investment portfolio, making the stock its 13th biggest position. 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 also recently made changes to their positions in PEP. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at approximately $31,000. Mattson Financial Services LLC purchased a new stake in PepsiCo during the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. raised its position in 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 purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $148.25 on Friday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a fifty day moving average price of $155.37 and a 200-day moving average price of $165.82. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $203.40 billion, a PE ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

A number of research analysts have recently commented on PEP shares. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company cut their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. UBS Group cut their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $178.60.

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.