Cullinan Associates Inc. Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cullinan Associates Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp boosted its position in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB boosted its position in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $150.27 on Tuesday. 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 price-to-earnings ratio of 22.16, a PEG ratio of 2.92 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day simple moving average of $153.12 and a 200-day simple moving average of $164.85.

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PEP shares. Barclays lowered their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company cut 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. UBS Group decreased their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. 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, the company has an average rating of “Hold” and a consensus price target of $176.73.

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.