Cohen Klingenstein LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Cohen Klingenstein LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,605 shares of the company's stock after selling 91,825 shares during the period. PepsiCo accounts for 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Howard Financial Services LTD. lifted its stake in PepsiCo by 7.3% in the fourth quarter. Howard Financial Services LTD. now owns 17,247 shares of the company's stock worth $2,623,000 after purchasing an additional 1,177 shares during the last quarter. Verity & Verity LLC boosted its holdings in PepsiCo by 4.9% during the 4th quarter. Verity & Verity LLC now owns 64,412 shares of the company's stock valued at $9,794,000 after acquiring an additional 3,028 shares during the period. Integrated Investment Consultants LLC grew its position in PepsiCo by 212.0% in the 4th quarter. Integrated Investment Consultants LLC now owns 12,101 shares of the company's stock valued at $1,840,000 after acquiring an additional 8,222 shares during the last quarter. Spring Capital Management LLC lifted its position in shares of PepsiCo by 7.2% during the fourth quarter. Spring Capital Management LLC now owns 26,660 shares of the company's stock worth $4,054,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Canoe Financial LP boosted its stake in shares of PepsiCo by 19.8% during the fourth quarter. Canoe Financial LP now owns 114,240 shares of the company's stock valued at $17,371,000 after purchasing an additional 18,873 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP traded up $1.71 during trading hours on Friday, reaching $148.25. 7,213,692 shares of the company traded hands, compared to its average volume of 5,895,834. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business has a fifty day moving average price of $155.37 and a 200-day moving average price of $165.82. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

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 given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo's dividend payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEP shares. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a report on Monday, September 30th. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. One research 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 has an average rating of "Hold" and an average price target 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.