Atlantic Union Bankshares Corp Sells 3,742 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,047 shares of the company's stock after selling 3,742 shares during the quarter. Atlantic Union Bankshares Corp's holdings in PepsiCo were worth $14,802,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in PepsiCo in the second quarter worth $30,000. Finally, Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock valued at $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.4 %

PEP stock traded up $0.73 during midday trading on Friday, hitting $163.45. The stock had a trading volume of 2,799,312 shares, compared to its average volume of 5,477,297. The business has a 50-day moving average of $167.95 and a two-hundred day moving average of $170.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $224.25 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the business earned $2.25 EPS. PepsiCo's quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. PepsiCo's payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEP shares. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $183.92.

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.