Narwhal Capital Management Has $8.76 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Narwhal Capital Management lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 57,612 shares of the company’s stock after buying an additional 3,197 shares during the quarter. Narwhal Capital Management’s holdings in PepsiCo were worth $8,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during 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 period. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at about $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.3 %

PepsiCo stock opened at $149.12 on Monday. The firm has a 50 day moving average price of $153.88 and a two-hundred day moving average price of $165.34. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several analysts recently issued reports on PEP shares. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday. Finally, Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $177.00.

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.