Synovus Financial Corp Sells 7,988 Shares of PepsiCo, Inc. $PEP

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

Several other institutional investors have also recently made changes to their positions 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 worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after acquiring an additional 11,538 shares during the last quarter. Topsail Wealth Management LLC purchased a new position in shares of PepsiCo during the fourth quarter worth about $215,000. Voya Financial Advisors Inc. increased its position in shares of PepsiCo by 12.2% in the fourth quarter. Voya Financial Advisors Inc. now owns 3,577 shares of the company’s stock worth $543,000 after purchasing an additional 388 shares during the last quarter. Finally, Three Seasons Wealth LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $236,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $149.64 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The stock has a market cap of $204.87 billion, a PE ratio of 27.26, a PEG ratio of 3.99 and a beta of 0.45. The company’s fifty day moving average is $139.32 and its 200 day moving average is $140.63. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is presently 103.64%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Citigroup lifted their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Morgan Stanley increased their target price on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. 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, Cowen reiterated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $158.73.

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.