PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Renasant Bank

Renasant Bank lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,874 shares of the company’s stock after selling 672 shares during the quarter. Renasant Bank’s holdings in PepsiCo were worth $437,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Collier Financial acquired a new stake in PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $34,000. Finally, Human Investing LLC purchased a new stake in PepsiCo during the fourth quarter worth $39,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PEP shares. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday. Evercore ISI decreased their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Royal Bank of Canada assumed coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective for the company. Finally, Barclays raised their target price on PepsiCo from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $170.59.

PepsiCo Stock Up 0.1 %

PEP stock opened at $148.34 on Friday. The firm has a market cap of $203.45 billion, a PE ratio of 21.34, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm’s 50 day moving average price is $148.78 and its 200-day moving average price is $160.29.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

About PepsiCo

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.