Truist Financial Corp Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Truist Financial Corp lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,292,120 shares of the company's stock after selling 9,809 shares during the period. Truist Financial Corp owned about 0.09% of PepsiCo worth $193,740,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. TAGStone Capital Inc. boosted its stake in shares of PepsiCo by 2.8% in the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares during the last quarter. Lokken Investment Group LLC boosted its stake in shares of PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after buying an additional 70 shares during the last quarter. Legacy Financial Group LLC boosted its stake in shares of PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after buying an additional 71 shares during the last quarter. Atlantic Private Wealth LLC boosted its stake in shares of PepsiCo by 37.5% in the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock worth $42,000 after buying an additional 75 shares during the last quarter. Finally, Pflug Koory LLC increased its holdings in PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ:PEP traded down $0.91 during trading hours on Friday, hitting $135.58. 4,941,378 shares of the stock were exchanged, compared to its average volume of 7,059,939. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The firm's fifty day moving average price is $131.40 and its 200 day moving average price is $142.26. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The company has a market cap of $185.88 billion, a P/E ratio of 19.94, a P/E/G ratio of 4.23 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter last year, the company earned $1.61 earnings per share. PepsiCo's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were issued a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 83.68%.

Wall Street Analyst Weigh In

PEP has been the subject of several recent analyst reports. UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Morgan Stanley dropped their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $159.75.

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.