Cullinan Associates Inc. Has $4.01 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cullinan Associates Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,393 shares of the company’s stock after selling 2,400 shares during the quarter. Cullinan Associates Inc.’s holdings in PepsiCo were worth $4,013,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC raised its holdings in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after buying an additional 870,451 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after acquiring an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ:PEP opened at $150.27 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a fifty day moving average of $153.12 and a 200 day moving average of $164.85. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market capitalization of $206.17 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.61%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. UBS Group reduced their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $176.73.

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.