Trustmark Bank Trust Department Sells 3,230 Shares of PepsiCo, Inc. $PEP

Trustmark Bank Trust Department lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,643 shares of the company’s stock after selling 3,230 shares during the period. Trustmark Bank Trust Department’s holdings in PepsiCo were worth $1,933,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth about $25,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo during the second quarter worth about $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares in the last quarter. Frazier Financial Advisors LLC grew its position in PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. increased its holdings in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.6%

NASDAQ:PEP opened at $148.91 on Friday. The company has a market cap of $203.61 billion, a PE ratio of 28.31, a PEG ratio of 3.56 and a beta of 0.45. The stock has a 50-day simple moving average of $146.01 and a 200 day simple moving average of $141.09. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $163.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company 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 was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.31 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s dividend payout ratio is currently 108.17%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. Loop Capital set a $164.00 price target on shares of PepsiCo in a research note on Thursday, October 23rd. Wells Fargo & Company increased their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Jefferies Financial Group lifted their target price on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Friday. Finally, Barclays boosted their price objective on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $156.90.

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.