SouthState Bank Corp Sells 4,192 Shares of PepsiCo, Inc. $PEP

SouthState Bank Corp trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,216 shares of the company’s stock after selling 4,192 shares during the quarter. SouthState Bank Corp’s holdings in PepsiCo were worth $3,332,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Syon Capital LLC increased its stake in PepsiCo by 15.5% during the 4th quarter. Syon Capital LLC now owns 10,904 shares of the company’s stock worth $1,565,000 after purchasing an additional 1,461 shares in the last quarter. Capital World Investors bought a new stake in PepsiCo during the 4th quarter worth approximately $51,730,000. Tacita Capital Inc increased its stake in PepsiCo by 7.4% during the 4th quarter. Tacita Capital Inc now owns 2,420 shares of the company’s stock worth $347,000 after purchasing an additional 167 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in PepsiCo by 125.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 282,934 shares of the company’s stock worth $41,747,000 after acquiring an additional 157,280 shares during the last quarter. Finally, Valtrion Capital Management LLC boosted its position in PepsiCo by 12.2% during the 4th quarter. Valtrion Capital Management LLC now owns 2,326 shares of the company’s stock worth $334,000 after acquiring an additional 253 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. Piper Sandler upped their price target on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Argus raised PepsiCo to a “hold” rating in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada reduced their price target on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.58.

PepsiCo Stock Performance

NASDAQ PEP opened at $141.92 on Monday. The company has a market cap of $193.97 billion, a PE ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The stock has a 50 day moving average of $152.21 and a 200-day moving average of $152.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is currently 92.94%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.