Trustmark National Bank Trust Department Has $4.85 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Trustmark National Bank Trust Department trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 18.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,544 shares of the company's stock after selling 6,445 shares during the quarter. Trustmark National Bank Trust Department's holdings in PepsiCo were worth $4,854,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company's stock valued at $16,968,000 after acquiring an additional 8,406 shares in the last quarter. M&G Plc boosted its position in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company's stock worth $70,334,000 after buying an additional 14,724 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company's stock worth $23,013,000 after buying an additional 4,547 shares in the last quarter. Fiduciary Family Office LLC raised its position in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company's stock valued at $1,164,000 after buying an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its stake in PepsiCo by 4.6% in the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company's stock valued at $64,432,000 after acquiring an additional 16,523 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEP shares. Morgan Stanley downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $183.92.

PepsiCo Stock Up 1.3 %

PEP stock opened at $158.74 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The company has a market cap of $217.79 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. The business has a 50-day simple moving average of $169.66 and a 200 day simple moving average of $171.16.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted 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 business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business posted $2.25 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.41%. PepsiCo's payout ratio is currently 79.94%.

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.

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