Atlantic Union Bankshares Corp Has $16.19 Million Holdings in PepsiCo, Inc. $PEP

Atlantic Union Bankshares Corp increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 65.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,577 shares of the company’s stock after acquiring an additional 48,572 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in PepsiCo were worth $16,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Claris Advisors LLC MO boosted its stake in PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after acquiring an additional 308 shares during the last quarter. Foster Group Inc. lifted its stake in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after buying an additional 229 shares in the last quarter. Ignite Planners LLC lifted its stake in PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock valued at $566,000 after buying an additional 151 shares in the last quarter. Merit Financial Group LLC lifted its stake in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after buying an additional 36,239 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after buying an additional 620 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PEP shares. Royal Bank Of Canada cut their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Piper Sandler lifted their price target on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Barclays lifted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. The Goldman Sachs Group boosted their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Price Performance

Shares of PEP opened at $142.86 on Thursday. The company has a market cap of $195.34 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $167.41. The company’s fifty day simple moving average is $145.53 and its 200 day simple moving average is $139.73. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

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.