Cohen Klingenstein LLC Sells 519 Shares of PepsiCo, Inc. $PEP

Cohen Klingenstein LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 297,080 shares of the company’s stock after selling 519 shares during the period. PepsiCo comprises 1.3% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 17th biggest position. Cohen Klingenstein LLC’s holdings in PepsiCo were worth $39,226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Dogwood Wealth Management LLC boosted its stake in PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after purchasing an additional 72 shares in the last quarter. Centurion Wealth Management LLC lifted its stake in shares of PepsiCo by 3.8% in the second quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company’s stock worth $273,000 after buying an additional 75 shares in the last quarter. SK Wealth Management LLC grew its holdings in shares of PepsiCo by 3.3% during the second quarter. SK Wealth Management LLC now owns 2,375 shares of the company’s stock valued at $319,000 after buying an additional 75 shares during the last quarter. Pflug Koory LLC increased its position in shares of PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock valued at $1,162,000 after acquiring an additional 76 shares in the last quarter. Finally, Hoge Financial Services LLC lifted its position in PepsiCo by 2.1% in the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company’s stock valued at $545,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP opened at $143.14 on Thursday. The company’s 50 day moving average is $144.43 and its 200 day moving average is $139.56. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The company has a market cap of $195.97 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.54 and a beta of 0.46. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo’s payout ratio is currently 103.64%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEP. UBS Group reduced their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Citigroup reduced their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price target on shares of PepsiCo from $154.00 to $150.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $158.13.

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.