SouthState Corp Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

SouthState Corp decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,107 shares of the company’s stock after selling 1,442 shares during the period. SouthState Corp’s holdings in PepsiCo were worth $8,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. International Assets Investment Management LLC lifted its position in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after acquiring an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in PepsiCo in the third quarter valued at $329,179,000. Flossbach Von Storch AG grew its holdings in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after purchasing an additional 1,495,586 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of PepsiCo by 68.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after acquiring an additional 1,183,371 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.2 %

PEP traded up $0.30 during trading on Thursday, hitting $175.45. The company had a trading volume of 3,915,818 shares, compared to its average volume of 5,767,363. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88. The firm’s 50-day moving average price is $169.87 and its 200 day moving average price is $168.21. The company has a market capitalization of $241.21 billion, a PE ratio of 26.43, a PEG ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.09%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is presently 76.09%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

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.