Atlantic Union Bankshares Corp Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,886 shares of the company’s stock after selling 5,161 shares during the period. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $12,451,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Amundi raised its stake in PepsiCo by 12.0% during the 4th quarter. Amundi now owns 9,278,801 shares of the company’s stock valued at $1,360,972,000 after buying an additional 996,351 shares during the last quarter. Naviter Wealth LLC increased its stake in shares of PepsiCo by 8.4% in the 4th quarter. Naviter Wealth LLC now owns 16,635 shares of the company’s stock worth $2,552,000 after purchasing an additional 1,282 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth $423,000. Intellectus Partners LLC increased its stake in shares of PepsiCo by 2.6% in the 4th quarter. Intellectus Partners LLC now owns 9,970 shares of the company’s stock worth $1,529,000 after purchasing an additional 248 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of PepsiCo by 1.9% in the 4th quarter. Larson Financial Group LLC now owns 14,732 shares of the company’s stock worth $2,240,000 after purchasing an additional 269 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.1 %

Shares of NASDAQ PEP opened at $154.44 on Friday. The firm’s 50-day moving average price is $148.80 and its 200-day moving average price is $160.96. 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 market capitalization of $211.81 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

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

PepsiCo Announces Dividend

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 given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Barclays upped their target price on shares of PepsiCo from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $172.35.

PepsiCo Company 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.