Cohen Klingenstein LLC Lowers Stake in PepsiCo, Inc. $PEP

Cohen Klingenstein LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the second quarter, HoldingsChannel.com reports. The firm owned 297,080 shares of the company’s stock after selling 519 shares during the quarter. PepsiCo comprises about 1.3% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 17th biggest holding. Cohen Klingenstein LLC’s holdings in PepsiCo were worth $39,226,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after purchasing an additional 1,258,198 shares during the period. Bank of New York Mellon Corp grew its holdings in PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock valued at $2,108,585,000 after buying an additional 49,699 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock valued at $1,728,180,000 after buying an additional 208,292 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after acquiring an additional 491,894 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Royal Bank Of Canada reduced their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Cowen reissued a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. UBS Group cut their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Citigroup decreased their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $158.13.

PepsiCo Trading Up 1.9%

Shares of PEP stock opened at $143.14 on Thursday. The company has a market cap of $195.97 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50. The stock’s 50 day simple moving average is $144.43 and its two-hundred day simple moving average is $139.56. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

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.