L.M. Kohn & Company Sells 7,654 Shares of PepsiCo, Inc. $PEP

L.M. Kohn & Company cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 63.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,362 shares of the company’s stock after selling 7,654 shares during the quarter. L.M. Kohn & Company’s holdings in PepsiCo were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in PEP. Vanguard Group Inc. increased its stake in PepsiCo by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after acquiring an additional 1,761,785 shares during the last quarter. State Street Corp increased its position in shares of PepsiCo by 1.6% in the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after purchasing an additional 920,045 shares during the last quarter. Geode Capital Management LLC raised its stake in PepsiCo by 0.3% in the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after purchasing an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 9.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Finally, Norges Bank bought a new position in shares of PepsiCo in the 2nd quarter worth $2,330,594,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Piper Sandler lifted their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. Wells Fargo & Company boosted their target price on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Finally, DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $159.29.

PepsiCo Trading Up 3.3%

Shares of PEP stock opened at $153.63 on Friday. The business has a 50-day moving average of $145.94 and a 200 day moving average of $145.45. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The stock has a market capitalization of $210.06 billion, a PE ratio of 29.21, a P/E/G ratio of 4.89 and a beta of 0.42.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is currently 108.17%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.