Atlantic Union Bankshares Corp Has $14.80 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,047 shares of the company’s stock after selling 3,742 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $14,802,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PepsiCo by 2.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock valued at $1,765,735,000 after purchasing an additional 236,091 shares during the period. Fisher Asset Management LLC boosted its position in shares of PepsiCo by 5.7% in the 3rd quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock worth $1,335,618,000 after purchasing an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.3 %

Shares of PEP stock opened at $162.72 on Friday. The firm’s fifty day moving average price is $167.95 and its two-hundred day moving average price is $170.55. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The firm has a market capitalization of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its 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. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. PepsiCo’s payout ratio is 79.94%.

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.