PepsiCo, Inc. $PEP Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp has reduced its stake in PepsiCo, Inc. by 8.7%, now holding 83,966 shares worth approximately $12.59 million after selling 7,988 shares.
• PepsiCo reported better-than-expected earnings of $2.12 per share for the last quarter, exceeding analysts' estimates of $2.03, with revenues also surpassing expectations at $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, set to be paid on September 30th, which represents an annualized yield of 3.8% and a payout ratio of 103.64%.

Synovus Financial Corp lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,966 shares of the company's stock after selling 7,988 shares during the quarter. Synovus Financial Corp's holdings in PepsiCo were worth $12,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Brighton Jones LLC grew its position in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares in the last quarter. Topsail Wealth Management LLC purchased a new position in PepsiCo during the fourth quarter valued at $215,000. Voya Financial Advisors Inc. lifted its holdings in PepsiCo by 12.2% during the fourth quarter. Voya Financial Advisors Inc. now owns 3,577 shares of the company's stock valued at $543,000 after purchasing an additional 388 shares in the last quarter. Finally, Three Seasons Wealth LLC purchased a new position in PepsiCo during the fourth quarter valued at $236,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Down 0.8%

Shares of PEP traded down $1.20 during trading on Tuesday, reaching $147.00. 11,207,315 shares of the company traded hands, compared to its average volume of 7,658,064. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73. The stock has a market cap of $201.25 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.45. The stock has a 50-day simple moving average of $140.01 and a 200-day simple moving average of $140.66. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period last year, the business earned $2.28 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo's payout ratio is 103.64%.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. Barclays increased their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a report on Tuesday, June 24th. Finally, Bank of America decreased their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus target price of $158.73.

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.