PepsiCo, Inc. (NASDAQ:PEP) Stock Position Decreased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp cut its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,886 shares of the company's stock after selling 5,161 shares during the quarter. Atlantic Union Bankshares Corp's holdings in PepsiCo were worth $12,451,000 at the end of the most recent quarter.

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

Remove Ads

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. Evercore ISI reduced their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th. StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $172.35.

PepsiCo Stock Down 2.5 %

Shares of PEP stock traded down $3.92 on Tuesday, hitting $152.33. The stock had a trading volume of 7,977,942 shares, compared to its average volume of 5,476,225. The stock's 50 day moving average is $148.89 and its 200-day moving average is $160.62. The firm has a market capitalization of $208.92 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $27.89 billion. During the same period in the prior year, the company posted $1.78 EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.56%. PepsiCo's dividend payout ratio is presently 77.99%.

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.