Truist Financial Corp Has $358.39 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Truist Financial Corp lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,172,979 shares of the company’s stock after selling 80,798 shares during the period. Truist Financial Corp owned approximately 0.16% of PepsiCo worth $358,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Meixler Investment Management Ltd. raised its position in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares in the last quarter. Opes Wealth Management LLC increased its stake in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares in the last quarter. Bank of Stockton raised its stake in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares during the period. Oxbow Advisors LLC raised its position in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Finally, Security Financial Services INC. lifted its holdings in shares of PepsiCo by 1.6% in the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.20.

PepsiCo Stock Up 0.0 %

Shares of NASDAQ PEP opened at $170.05 on Tuesday. The business has a 50-day simple moving average of $173.82 and a two-hundred day simple moving average of $172.12. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a market cap of $233.58 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s payout ratio is presently 78.66%.

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.