PepsiCo (NASDAQ:PEP) Shares Up 0.2% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price was up 0.2% during mid-day trading on Thursday . The company traded as high as $152.39 and last traded at $151.78. Approximately 2,110,366 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 6,989,848 shares. The stock had previously closed at $151.51.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. BNP Paribas lowered their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Citigroup lowered their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Price Performance

The firm has a market cap of $208.50 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The stock has a 50 day simple moving average of $148.56 and a two-hundred day simple moving average of $161.80. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently modified their holdings of PEP. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. Collier Financial acquired a new stake in shares of PepsiCo in the 4th quarter worth $28,000. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at about $30,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $30,000. Hedge funds and other 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.