PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Cadence Bank

Cadence Bank boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,217 shares of the company’s stock after buying an additional 226 shares during the period. PepsiCo makes up approximately 0.8% of Cadence Bank’s portfolio, making the stock its 25th biggest position. Cadence Bank’s holdings in PepsiCo were worth $10,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. Meridian Wealth Management LLC purchased a new position in PepsiCo in the third quarter valued at $9,589,000. M&G Plc grew its stake in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares in the last quarter. Finally, Fiduciary Family Office LLC boosted its stake in shares of PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.5 %

Shares of PEP stock opened at $162.16 on Wednesday. The business’s fifty day moving average price is $168.43 and its 200 day moving average price is $170.66. The firm has a market capitalization of $222.48 billion, a PE ratio of 23.92, a P/E/G ratio of 3.04 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during 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%. During the same quarter last year, the firm posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $183.92.

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.