PepsiCo (NASDAQ:PEP) Trading Up 0.4% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price rose 0.4% during trading on Tuesday . The company traded as high as $147.97 and last traded at $146.92. Approximately 1,916,613 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 5,314,311 shares. The stock had previously closed at $146.27.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Piper Sandler began coverage on PepsiCo in a research report on Tuesday. They issued an “overweight” rating and a $171.00 price target for the company. Finally, Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Performance

The firm’s 50 day moving average price is $158.20 and its 200-day moving average price is $166.82. The firm has a market cap of $201.05 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s dividend payout ratio is 79.94%.

Institutional Trading of PepsiCo

A number of hedge funds have recently modified their holdings of PEP. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

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.