Atlantic Union Bankshares Corp Has $14.57 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 78,648 shares of the company’s stock after selling 5,706 shares during the period. PepsiCo comprises 1.5% of Atlantic Union Bankshares Corp’s holdings, making the stock its 10th biggest position. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $14,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Essex Savings Bank increased its holdings in shares of PepsiCo by 0.6% in 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 boosted its holdings in shares of 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 grew its position in shares of 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 purchasing an additional 171 shares during the last quarter. Zuckerman Investment Group LLC increased its stake in shares of PepsiCo by 4.4% during the first 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 boosted its stake in PepsiCo by 0.3% in the 1st quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock valued at $5,701,000 after purchasing an additional 93 shares during the period. 71.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI upped their price target on shares of PepsiCo from $190.00 to $195.00 in a research note on Friday, July 14th. Argus boosted their price target on PepsiCo from $206.00 to $212.00 in a research note on Friday, July 14th. Barclays reduced their price objective on shares of PepsiCo from $206.00 to $198.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. Finally, Royal Bank of Canada boosted their target price on shares of PepsiCo from $178.00 to $180.00 in a research note on Friday, July 14th. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $192.00.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP opened at $179.38 on Tuesday. PepsiCo, Inc. has a 52 week low of $160.98 and a 52 week high of $196.88. The firm’s fifty day moving average is $182.67 and its 200-day moving average is $184.61. The firm has a market cap 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.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 13th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. The company had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. Equities analysts expect that PepsiCo, Inc. will post 7.48 earnings per share for the current 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.82%. PepsiCo’s payout ratio is presently 88.62%.

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.