PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,648 shares of the company’s stock after selling 5,706 shares during the quarter. PepsiCo accounts for about 1.5% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 10th largest holding. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $14,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Essex Savings Bank increased its stake in PepsiCo by 0.6% during the first quarter. Essex Savings Bank now owns 18,928 shares of the company’s stock valued at $3,451,000 after purchasing an additional 107 shares during the last quarter. First Personal Financial Services raised its stake in PepsiCo by 2.0% during the first quarter. First Personal Financial Services now owns 32,470 shares of the company’s stock worth $5,919,000 after acquiring an additional 623 shares during the period. Warther Private Wealth LLC boosted its stake in PepsiCo by 7.4% in the first quarter. Warther Private Wealth LLC now owns 2,479 shares of the company’s stock valued at $452,000 after acquiring an additional 171 shares during the period. Zuckerman Investment Group LLC raised its position in shares of PepsiCo by 4.4% during the 1st quarter. Zuckerman Investment Group LLC now owns 1,831 shares of the company’s stock worth $334,000 after purchasing an additional 78 shares during the period. Finally, Trinity Legacy Partners LLC lifted its holdings in shares of PepsiCo by 0.3% in the 1st quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock worth $5,701,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 71.40% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $179.38 on Tuesday. The stock has a market capitalization of $246.93 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.64 and a current ratio of 0.84. The business’s fifty day moving average is $182.67 and its two-hundred day moving average is $184.61. PepsiCo, Inc. has a 1 year low of $160.98 and a 1 year high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The business had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $21.73 billion. During the same period in the previous year, the company earned $1.86 earnings per share. PepsiCo’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 7.48 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Thursday, August 31st. PepsiCo’s dividend payout ratio (DPR) is currently 88.62%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI increased their target price on PepsiCo from $190.00 to $195.00 in a research report on Friday, July 14th. Barclays reduced their target price on shares of PepsiCo from $206.00 to $198.00 in a research note on Monday, July 10th. Royal Bank of Canada lifted their target price on PepsiCo from $178.00 to $180.00 in a research note on Friday, July 14th. Argus raised their price target on PepsiCo from $206.00 to $212.00 in a report on Friday, July 14th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $192.00.

About PepsiCo

PepsiCo, Inc manufactures, markets, distributes, and sells 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.