Cohen Klingenstein LLC Sells 91,825 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cohen Klingenstein LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,605 shares of the company’s stock after selling 91,825 shares during the quarter. PepsiCo makes up approximately 1.6% of Cohen Klingenstein LLC’s holdings, making the stock its 16th biggest holding. Cohen Klingenstein LLC’s holdings in PepsiCo were worth $45,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the 3rd 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 bought a new stake in shares of PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter valued at approximately $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $148.25 on Friday. The firm has a 50 day simple moving average of $155.37 and a 200 day simple moving average of $165.82. The company has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEP shares. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, UBS Group dropped their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $178.60.

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.