Renasant Bank Has $435,000 Stock Holdings in PepsiCo, Inc. $PEP

Renasant Bank raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 49.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,295 shares of the company’s stock after acquiring an additional 1,087 shares during the quarter. Renasant Bank’s holdings in PepsiCo were worth $435,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Claris Advisors LLC MO increased its holdings in shares of 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. boosted its position in PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares during the period. Ignite Planners LLC increased its holdings in shares of 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 purchasing an additional 151 shares during the last quarter. Merit Financial Group LLC raised its position in shares of 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 purchasing an additional 36,239 shares during the period. Finally, Fulton Bank N.A. lifted its stake in shares of PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PEP. Jefferies Financial Group upped their price target on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. BNP Paribas Exane reduced their price objective on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Bank of America upped their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Barclays upped their price objective on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Seven investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

PEP opened at $145.08 on Wednesday. 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 $166.88. The firm has a market cap of $198.37 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The business’s fifty day moving average is $145.08 and its 200-day moving average is $139.84.

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

About PepsiCo

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.