Cadence Bank Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cadence Bank boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 64,825 shares of the company’s stock after purchasing an additional 608 shares during the period. Cadence Bank’s holdings in PepsiCo were worth $9,857,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Collier Financial acquired a new stake in shares of PepsiCo in the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo in the 4th quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo during the fourth quarter worth $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Citigroup cut their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $168.12.

PepsiCo Stock Performance

Shares of PEP opened at $142.84 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a 50 day moving average price of $148.22 and a 200 day moving average price of $155.14. The company has a market capitalization of $195.88 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52-week low of $138.33 and a 52-week high of $183.41.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

PepsiCo Company 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.