Atlantic Union Bankshares Corp Sells 7,881 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,005 shares of the company's stock after selling 7,881 shares during the quarter. Atlantic Union Bankshares Corp's holdings in PepsiCo were worth $11,096,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PEP. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the fourth quarter valued at $28,000. Elite Financial Inc. purchased a new position in shares of PepsiCo in the first quarter valued at $28,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the fourth quarter valued at $30,000. Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo in the fourth quarter valued at $31,000. Finally, Summit Securities Group LLC purchased a new position in shares of PepsiCo in the fourth quarter valued at $33,000. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday. Barclays dropped their price target on PepsiCo from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday. Bank of America dropped their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Finally, Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $157.93.

PepsiCo Stock Performance

Shares of PEP opened at $143.24 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The business's 50 day moving average price is $132.23 and its 200-day moving average price is $141.11. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The stock has a market cap of $196.39 billion, a P/E ratio of 26.09, a P/E/G ratio of 4.38 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.97%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.

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