Synovus Financial Corp Sells 34,011 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Synovus Financial Corp cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,954 shares of the company's stock after selling 34,011 shares during the quarter. Synovus Financial Corp's holdings in PepsiCo were worth $13,985,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Collier Financial bought a new position in PepsiCo in the 4th quarter valued at about $28,000. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo during the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the 4th quarter valued at approximately $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP traded down $3.91 during trading hours on Tuesday, reaching $142.84. The company had a trading volume of 5,455,357 shares, compared to its average volume of 6,086,751. PepsiCo, Inc. has a 52 week low of $138.33 and a 52 week high of $183.41. The firm's 50 day moving average price is $148.34 and its 200-day moving average price is $155.43. 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 has a market cap of $195.88 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.09 and a beta of 0.49.

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PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) 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 firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The company's revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. HSBC lowered their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Finally, BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $168.12.

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.