PepsiCo (NASDAQ:PEP) Shares Up 0.8% – Time to Buy?

PepsiCo, Inc. (NASDAQ:PEP)’s share price rose 0.8% during trading on Thursday . The stock traded as high as $146.67 and last traded at $146.54. Approximately 6,776,833 shares traded hands during trading, a decline of 0% from the average daily volume of 6,782,432 shares. The stock had previously closed at $145.40.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday. They set an “overweight” rating and a $171.00 price objective for the company. TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $180.64.

PepsiCo Stock Performance

The stock has a market capitalization of $201.05 billion, a P/E ratio of 21.61, a PEG ratio of 2.94 and a beta of 0.54. The firm has a 50-day moving average of $158.20 and a 200 day moving average of $166.82. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PEP. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the last quarter. State Street Corp raised its position in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. raised its position in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB increased its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.