SouthState Corp Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

SouthState Corp decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 47,937 shares of the company’s stock after selling 2,745 shares during the period. SouthState Corp’s holdings in PepsiCo were worth $7,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tcfg Wealth Management LLC raised its stake in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after purchasing an additional 66 shares during the period. BIP Wealth LLC raised its stake in PepsiCo by 1.9% during the third quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock worth $612,000 after purchasing an additional 67 shares during the period. Lincoln Capital LLC raised its stake in PepsiCo by 0.4% during the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock worth $2,556,000 after purchasing an additional 70 shares during the period. Marshall Financial Group LLC raised its stake in PepsiCo by 2.3% during the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock worth $476,000 after purchasing an additional 70 shares during the period. Finally, Osprey Private Wealth LLC raised its stake in PepsiCo by 0.5% during the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.2 %

PepsiCo stock opened at $148.59 on Monday. The firm has a market cap of $203.79 billion, a PE ratio of 21.38, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm’s 50 day moving average price is $148.76 and its two-hundred day moving average price is $159.89. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEP shares. Wells Fargo & Company cut their price target 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. Barclays raised their target price on shares of PepsiCo from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, Morgan Stanley cut their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $170.59.

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.