SouthState Corp Reduces Stock Position in PepsiCo, Inc. $PEP

SouthState Corp decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 20.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 55,422 shares of the company’s stock after selling 14,582 shares during the quarter. SouthState Corp’s holdings in PepsiCo were worth $7,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JSF Financial LLC boosted its holdings in shares of PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after buying an additional 69 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in shares of PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after buying an additional 72 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of PepsiCo by 0.5% in the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock worth $2,180,000 after buying an additional 74 shares during the last quarter. Bull Street Advisors LLC boosted its holdings in shares of PepsiCo by 0.4% in the second quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock worth $2,628,000 after buying an additional 74 shares during the last quarter. Finally, Guardian Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 1.6% in the second quarter. Guardian Wealth Advisors LLC now owns 4,562 shares of the company’s stock worth $602,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.0%

Shares of PEP opened at $142.86 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company’s fifty day moving average is $145.53 and its 200 day moving average is $139.73. The stock has a market capitalization of $195.34 billion, a PE ratio of 27.16, a P/E/G ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $167.41.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEP. The Goldman Sachs Group lifted their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Citigroup lowered their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Royal Bank Of Canada lowered their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Morgan Stanley lifted their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Finally, DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a report on Tuesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.95.

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.