Mogy Joel R Investment Counsel Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Mogy Joel R Investment Counsel Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,359 shares of the company’s stock after selling 7,710 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in PepsiCo were worth $10,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. State Street Corp raised its position in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $148.55 on Wednesday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $155.05 and a 200-day moving average price of $165.76. The stock has a market cap of $203.81 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 2.74 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEP. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America dropped 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. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Company 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.