Cohen Klingenstein LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 476,006 shares of the company’s stock after selling 4,455 shares during the period. PepsiCo makes up about 3.8% of Cohen Klingenstein LLC’s portfolio, making the stock its 5th largest holding. Cohen Klingenstein LLC’s holdings in PepsiCo were worth $65,056,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Shulman DeMeo Asset Management LLC lifted its position in shares of PepsiCo by 6.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 4,846 shares of the company’s stock valued at $662,000 after acquiring an additional 284 shares during the last quarter. Guardian Investment Management acquired a new stake in shares of PepsiCo during the 4th quarter valued at $1,978,000. Relyea Zuckerberg Hanson LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at $1,527,000. Honkamp Krueger Financial Services Inc. lifted its position in shares of PepsiCo by 4.7% during the 4th quarter. Honkamp Krueger Financial Services Inc. now owns 26,292 shares of the company’s stock valued at $3,593,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of PepsiCo by 1.0% during the 4th quarter. Raymond James Trust N.A. now owns 100,601 shares of the company’s stock valued at $13,749,000 after acquiring an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.
PEP opened at $139.20 on Thursday. The stock has a fifty day moving average of $136.51 and a 200-day moving average of $134.57. The firm has a market capitalization of $190.83 billion, a P/E ratio of 24.59, a PEG ratio of 3.30 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $107.70 and a 12-month high of $140.45. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 6th were issued a $0.955 dividend. The ex-dividend date was Thursday, December 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.74%. PepsiCo’s payout ratio is currently 67.49%.
A number of brokerages have recently commented on PEP. BidaskClub downgraded PepsiCo from a “sell” rating to a “strong sell” rating in a research report on Friday, January 10th. Evercore ISI reiterated a “hold” rating on shares of PepsiCo in a research report on Sunday, December 15th. Credit Suisse Group increased their price objective on PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research report on Friday, October 4th. Citigroup increased their price objective on PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. set a $154.00 price objective on PepsiCo and gave the company a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $135.53.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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