Argent Trust Co Sells 2,066 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Argent Trust Co reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 102,715 shares of the company’s stock after selling 2,066 shares during the period. Argent Trust Co’s holdings in PepsiCo were worth $15,619,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $28,000. Collier Financial bought a new stake in shares of PepsiCo during the 4th quarter valued at $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo in the 4th quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $33,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP stock traded up $0.94 during trading hours on Thursday, hitting $146.53. 775,756 shares of the company’s stock were exchanged, compared to its average volume of 6,023,499. The stock’s 50-day moving average is $148.47 and its 200-day moving average is $156.13. The stock has a market cap of $200.93 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52 week low of $138.33 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $168.00 to $156.00 in a report on Tuesday, March 18th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $169.88.

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.