SouthState Corp Has $8.51 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

SouthState Corp lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,107 shares of the company’s stock after selling 1,442 shares during the quarter. SouthState Corp’s holdings in PepsiCo were worth $8,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock valued at $3,121,736,000 after buying an additional 920,032 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of PepsiCo by 3.7% in the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after acquiring an additional 595,357 shares during the period. California Public Employees Retirement System raised its position in PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PepsiCo by 9.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock worth $1,239,629,000 after purchasing an additional 608,321 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in PepsiCo by 2.1% during the 3rd quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock valued at $1,147,922,000 after acquiring an additional 142,243 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.2 %

Shares of PEP traded up $0.30 on Thursday, hitting $175.45. The company’s stock had a trading volume of 3,915,818 shares, compared to its average volume of 5,767,363. The firm has a market capitalization of $241.21 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.87 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The firm’s fifty day moving average price is $169.87 and its 200-day moving average price is $168.21.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.09%. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $195.00 in a report on Monday, February 12th. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Barclays boosted their target price on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.42.

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.