PepsiCo, Inc. $PEP Stake Lowered by Trustmark Bank Trust Department

Trustmark Bank Trust Department trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,643 shares of the company’s stock after selling 3,230 shares during the period. Trustmark Bank Trust Department’s holdings in PepsiCo were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $2,330,594,000. Nuveen LLC bought a new position in PepsiCo during the first quarter valued at approximately $946,978,000. Laurel Wealth Advisors LLC lifted its stake in PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after acquiring an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in PepsiCo in the second quarter worth approximately $460,110,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Piper Sandler reduced their price objective on shares of PepsiCo from $162.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Rothschild & Co Redburn raised their target price on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. Evercore ISI upped their price target on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $156.90.

PepsiCo Stock Performance

NASDAQ PEP opened at $148.91 on Friday. The company’s fifty day moving average is $146.01 and its two-hundred day moving average is $141.09. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $163.65. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market capitalization of $203.61 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is currently 108.17%.

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.