PepsiCo (NASDAQ:PEP) Trading 0.4% Higher – Still a Buy?

Shares of PepsiCo, Inc. (NASDAQ:PEP) rose 0.4% 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PEP shares. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday. They issued an “overweight” rating and a $171.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $182.29.

PepsiCo Stock Performance

The stock has a fifty day simple moving average of $159.04 and a 200-day simple moving average of $167.12. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $200.16 billion, a P/E ratio of 21.52, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.72%. PepsiCo’s payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% during 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 during the last quarter. Cross Staff Investments Inc boosted its position in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares during the last quarter. Paulson Wealth Management Inc. increased its stake in shares of PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares during the period. LCM Capital Management Inc lifted its stake in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares during the period. Finally, Demars Financial Group LLC boosted its holdings in PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares during 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.