Trustmark National Bank Trust Department Has $3.87 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Trustmark National Bank Trust Department reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,453 shares of the company's stock after selling 3,091 shares during the quarter. Trustmark National Bank Trust Department's holdings in PepsiCo were worth $3,870,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PEP. Assenagon Asset Management S.A. lifted its position in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company's stock valued at $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its position in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company's stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. Guinness Asset Management LTD raised its holdings in PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company's stock worth $188,031,000 after buying an additional 61,541 shares during the period. WCM Investment Management LLC lifted its stake in PepsiCo by 147.6% during the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company's stock valued at $2,229,000 after buying an additional 8,759 shares in the last quarter. Finally, Everence Capital Management Inc. boosted its holdings in shares of PepsiCo by 48.2% in the fourth quarter. Everence Capital Management Inc. now owns 56,089 shares of the company's stock worth $8,529,000 after buying an additional 18,250 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. Bank of America reaffirmed a "neutral" rating and issued a $155.00 target price (down previously from $185.00) on shares of PepsiCo in a research report on Tuesday. HSBC reduced their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Finally, Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target for the company. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $168.12.

PepsiCo Stock Performance

PepsiCo stock traded down $2.75 during trading hours on Wednesday, reaching $140.09. 7,869,299 shares of the company were exchanged, compared to its average volume of 6,093,823. PepsiCo, Inc. has a 12 month low of $138.33 and a 12 month high of $183.41. 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 stock has a 50-day moving average of $148.34 and a 200 day moving average of $155.43. The firm has a market cap of $192.11 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. 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 prior year, the company earned $1.78 EPS. The firm's revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio (DPR) 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.