PepsiCo (NASDAQ:PEP) Stock Price Up 0.7% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) shares were up 0.7% on Wednesday . The stock traded as high as $151.83 and last traded at $151.34. Approximately 1,072,786 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,551,753 shares. The stock had previously closed at $150.25.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $172.00 price target on shares of PepsiCo in a research note on Wednesday. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $176.73.

PepsiCo Stock Down 0.8 %

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 firm has a fifty day moving average of $153.35 and a 200-day moving average of $164.97. The firm has a market cap of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.60%. PepsiCo’s dividend payout ratio is presently 79.94%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its position in PepsiCo by 13.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 579 shares of the company’s stock worth $95,000 after purchasing an additional 68 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $223,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of PepsiCo by 116.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 617,014 shares of the company’s stock worth $101,764,000 after buying an additional 332,558 shares during the period. Anchor Investment Management LLC grew its stake in PepsiCo by 17.5% in the 2nd quarter. Anchor Investment Management LLC now owns 26,359 shares of the company’s stock valued at $4,347,000 after buying an additional 3,923 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in PepsiCo by 210.2% in the 2nd quarter. Centaurus Financial Inc. now owns 14,419 shares of the company’s stock valued at $2,378,000 after acquiring an additional 9,770 shares during the period. 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.