Benin Management CORP Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Benin Management CORP cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,010 shares of the company’s stock after selling 455 shares during the quarter. PepsiCo accounts for approximately 2.6% of Benin Management CORP’s investment portfolio, making the stock its 7th largest position. Benin Management CORP’s holdings in PepsiCo were worth $9,429,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PEP shares. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their target price 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, TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One research 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. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $149.12 on Friday. The company has a 50 day simple moving average of $154.07 and a two-hundred day simple moving average of $165.40. The stock has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Dividend Announcement

The business 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 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

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.