Synovus Financial Corp Has $21.42 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Synovus Financial Corp grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,965 shares of the company’s stock after buying an additional 6,560 shares during the quarter. Synovus Financial Corp’s holdings in PepsiCo were worth $21,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. International Assets Investment Management LLC lifted its holdings in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. State Street Corp lifted its stake in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Swedbank AB boosted its position in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 1,125,059 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of PepsiCo by 7.2% in the 2nd 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. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PEP shares. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $184.00 in a research report on Thursday. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $184.31.

PepsiCo Stock Up 1.4 %

PEP stock opened at $158.90 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $218.01 billion, a PE ratio of 23.44, a P/E/G ratio of 2.92 and a beta of 0.52. The stock’s 50 day moving average is $165.94 and its 200-day moving average is $169.13. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. 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 dividend payout ratio is presently 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.