Synovus Financial Corp Decreases Stake in PepsiCo, Inc. $PEP

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

Other institutional investors also recently modified their holdings of the company. Elite Financial Inc. purchased a new position in PepsiCo in the first quarter worth $28,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at $31,000. Sunbeam Capital Management LLC bought a new stake in shares of PepsiCo during the 4th quarter worth $47,000. MorganRosel Wealth Management LLC purchased a new position in shares of PepsiCo in the 1st quarter worth about $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in PepsiCo during the first quarter valued at about $58,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $149.64 on Friday. The firm’s 50 day moving average is $139.32 and its 200 day moving average is $140.63. The stock has a market capitalization of $204.87 billion, a P/E ratio of 27.26, a PEG ratio of 3.99 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

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

PepsiCo Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEP. Wells Fargo & Company raised their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Barclays raised their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Bank of America decreased their target price on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $158.73.

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.