PepsiCo (NASDAQ:PEP) Shares Up 0.9%

Shares of PepsiCo, Inc. (NASDAQ:PEP) shot up 0.9% during mid-day trading on Tuesday . The stock traded as high as $171.94 and last traded at $171.62. 1,340,716 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 5,468,750 shares. The stock had previously closed at $170.05.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group reduced their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $185.20.

PepsiCo Stock Performance

The company has a market cap of $234.88 billion, a PE ratio of 24.91, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The stock’s 50-day simple moving average is $173.82 and its 200 day simple moving average is $172.12.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the company posted $2.09 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Institutional Investors Weigh In On PepsiCo

Hedge funds and other institutional investors have recently modified their holdings of the company. Emprise Bank boosted its position in shares of PepsiCo by 22.8% in the third quarter. Emprise Bank now owns 12,321 shares of the company’s stock worth $2,095,000 after acquiring an additional 2,284 shares during the last quarter. Global Wealth Strategies & Associates raised 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 period. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the second quarter valued at approximately $34,000. Centaurus Financial Inc. increased its stake in shares of PepsiCo by 210.2% in the second quarter. Centaurus Financial Inc. now owns 14,419 shares of the company’s stock worth $2,378,000 after buying an additional 9,770 shares during the last quarter. Finally, Anchor Investment Management LLC increased its stake in shares of PepsiCo by 17.5% in the second quarter. Anchor Investment Management LLC now owns 26,359 shares of the company’s stock worth $4,347,000 after buying an additional 3,923 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.