Cohen Klingenstein LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,205 shares of the company’s stock after selling 3,050 shares during the period. PepsiCo makes up about 2.6% of Cohen Klingenstein LLC’s portfolio, making the stock its 6th biggest holding. Cohen Klingenstein LLC’s holdings in PepsiCo were worth $17,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Global Financial Private Capital LLC increased its stake in shares of PepsiCo by 11.9% in the 3rd quarter. Global Financial Private Capital LLC now owns 73,224 shares of the company’s stock valued at $8,186,000 after purchasing an additional 7,814 shares during the last quarter. Palo Capital Inc. bought a new stake in PepsiCo during the 3rd quarter worth $1,012,000. Bank of Montreal Can grew its position in PepsiCo by 19.9% during the 3rd quarter. Bank of Montreal Can now owns 3,227,392 shares of the company’s stock worth $360,823,000 after acquiring an additional 536,023 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new stake in PepsiCo during the 2nd quarter worth $836,330,000. Finally, Palladium Partners LLC grew its position in PepsiCo by 2.6% during the 3rd quarter. Palladium Partners LLC now owns 134,235 shares of the company’s stock worth $15,008,000 after acquiring an additional 3,465 shares during the last quarter. 71.93% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PEP. UBS Group began coverage on PepsiCo in a research report on Thursday, December 13th. They set a “neutral” rating and a $123.00 price objective on the stock. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Barclays restated a “hold” rating and set a $111.00 price objective (up previously from $104.00) on shares of PepsiCo in a research report on Monday, February 18th. Finally, Gabelli restated a “buy” rating on shares of PepsiCo in a research report on Tuesday, February 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $118.79.
NASDAQ PEP opened at $115.66 on Friday. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.00. The stock has a market capitalization of $162.42 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.95 and a beta of 0.64. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.85 and a current ratio of 0.99.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 15th. The company reported $1.49 EPS for the quarter, meeting analysts’ consensus estimates of $1.49. PepsiCo had a return on equity of 69.83% and a net margin of 19.35%. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $19.52 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The business’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 5.5 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, February 28th. PepsiCo’s dividend payout ratio is 65.55%.
In other news, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the transaction, the chief executive officer now directly owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.
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PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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