PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by SouthState Corp

SouthState Corp lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,937 shares of the company’s stock after selling 2,745 shares during the period. SouthState Corp’s holdings in PepsiCo were worth $7,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp lifted its position in PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 21.1% in 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. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PEP shares. TD Cowen reduced their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Morgan Stanley reduced their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. HSBC reduced their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $170.59.

PepsiCo Trading Up 0.2 %

Shares of PEP opened at $148.59 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm’s 50-day moving average is $148.76 and its two-hundred day moving average is $159.89. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market capitalization of $203.79 billion, a P/E ratio of 21.38, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.