Atlantic Union Bankshares Corp Sells 3,503 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Atlantic Union Bankshares Corp reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,657 shares of the company’s stock after selling 3,503 shares during the period. PepsiCo makes up about 1.0% of Atlantic Union Bankshares Corp’s holdings, making the stock its 20th largest holding. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $12,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PEP. Westfield Capital Management Co. LP lifted its stake in PepsiCo by 6.7% during the third quarter. Westfield Capital Management Co. LP now owns 54,876 shares of the company’s stock worth $9,298,000 after purchasing an additional 3,430 shares during the last quarter. Private Advisory Group LLC increased its holdings in shares of PepsiCo by 17.5% in the third quarter. Private Advisory Group LLC now owns 2,642 shares of the company’s stock worth $448,000 after buying an additional 393 shares during the period. Bank of Nova Scotia increased its holdings in shares of PepsiCo by 3.6% in the third quarter. Bank of Nova Scotia now owns 299,212 shares of the company’s stock worth $50,698,000 after buying an additional 10,356 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of PepsiCo by 642.4% in the third quarter. Itau Unibanco Holding S.A. now owns 2,331 shares of the company’s stock worth $395,000 after buying an additional 2,017 shares during the period. Finally, Morningstar Investment Services LLC increased its holdings in shares of PepsiCo by 23.7% in the third quarter. Morningstar Investment Services LLC now owns 3,781 shares of the company’s stock worth $641,000 after buying an additional 725 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. BNP Paribas assumed coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $186.38.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $164.93 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $226.74 billion, a P/E ratio of 24.80, a PEG ratio of 2.73 and a beta of 0.52. The stock’s 50 day moving average is $173.37 and its 200 day moving average is $170.30. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38.

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

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.29%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

PepsiCo Company 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.