Hancock Whitney Corp Sells 437 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hancock Whitney Corp trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 77,695 shares of the company’s stock after selling 437 shares during the period. Hancock Whitney Corp’s holdings in PepsiCo were worth $13,212,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth $28,000. POM Investment Strategies LLC lifted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter worth about $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.2 %

Shares of PEP stock opened at $162.40 on Monday. The company has a market cap of $222.81 billion, a P/E ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The stock has a 50 day simple moving average of $169.01 and a two-hundred day simple moving average of $170.89. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

PEP has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

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.