Synovus Financial Corp grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,137 shares of the company’s stock after buying an additional 703 shares during the period. Synovus Financial Corp’s holdings in PepsiCo were worth $22,588,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Elevated Capital Advisors LLC purchased a new position in shares of PepsiCo during the fourth quarter worth $357,000. Sandy Spring Bank raised its holdings in shares of PepsiCo by 5.7% during the fourth quarter. Sandy Spring Bank now owns 75,762 shares of the company’s stock worth $10,354,000 after purchasing an additional 4,084 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of PepsiCo by 3.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 166,148 shares of the company’s stock worth $22,711,000 after purchasing an additional 5,130 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of PepsiCo by 0.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 189,441 shares of the company’s stock worth $25,891,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Robinson Value Management Ltd. purchased a new position in shares of PepsiCo during the fourth quarter worth $215,000. 71.35% of the stock is owned by institutional investors and hedge funds.
PEP traded up $0.52 on Friday, reaching $146.99. The stock had a trading volume of 3,555,561 shares, compared to its average volume of 4,124,466. PepsiCo, Inc. has a 12-month low of $114.11 and a 12-month high of $147.15. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The business’s 50-day moving average price is $140.04 and its two-hundred day moving average price is $136.11. The company has a market cap of $203.11 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The company had revenue of $20.64 billion during the quarter, compared to analysts’ expectations of $20.24 billion. During the same quarter in the previous year, the company earned $1.49 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.60%. PepsiCo’s payout ratio is 67.49%.
Several brokerages recently issued reports on PEP. Evercore ISI reissued a “hold” rating on shares of PepsiCo in a report on Sunday, December 15th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Citigroup raised their target price on shares of PepsiCo from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Finally, Cfra raised their target price on shares of PepsiCo from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. PepsiCo currently has a consensus rating of “Hold” and an average target price of $137.45.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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