SouthState Bank Corp Has $3.33 Million Stock Holdings in PepsiCo, Inc. $PEP

SouthState Bank Corp decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.3% in the 4th quarter, HoldingsChannel reports. The firm owned 23,216 shares of the company’s stock after selling 4,192 shares during the period. SouthState Bank Corp’s holdings in PepsiCo were worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its holdings in PepsiCo by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock valued at $77,916,000 after purchasing an additional 19,218 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in PepsiCo by 11.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock valued at $59,600,000 after purchasing an additional 42,335 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. lifted its holdings in PepsiCo by 622.3% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock valued at $5,110,000 after purchasing an additional 30,674 shares during the last quarter. Allstate Corp increased its position in PepsiCo by 108.1% during the 4th quarter. Allstate Corp now owns 104,723 shares of the company’s stock worth $15,030,000 after buying an additional 54,405 shares during the period. Finally, NEOS Investment Management LLC increased its position in PepsiCo by 65.8% during the 3rd quarter. NEOS Investment Management LLC now owns 577,111 shares of the company’s stock worth $81,049,000 after buying an additional 229,121 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $141.92 on Monday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The stock has a market capitalization of $193.97 billion, a P/E ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. The stock’s fifty day moving average is $152.21 and its 200 day moving average is $152.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter last year, the business earned $1.48 earnings per share. PepsiCo’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date is Friday, June 5th. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio (DPR) is 92.94%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. UBS Group lowered their price objective on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. HSBC increased their price objective on PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Finally, BNP Paribas Exane increased their price objective on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $169.58.

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.