PepsiCo, Inc. (NASDAQ:PEP – Get Free Report) shares shot up 0.4% on Wednesday following a stronger than expected earnings report. The company traded as high as $171.60 and last traded at $171.17. 1,299,933 shares traded hands during trading, a decline of 76% from the average session volume of 5,485,505 shares. The stock had previously closed at $170.42.
The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 earnings per share.
PepsiCo Announces Dividend
The company also recently disclosed 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. This represents a $5.42 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on PepsiCo
Institutional Trading of PepsiCo
Hedge funds and other institutional investors have recently modified their holdings of the company. MGO One Seven LLC increased its stake in PepsiCo by 46.7% in the 4th quarter. MGO One Seven LLC now owns 25,508 shares of the company’s stock valued at $4,332,000 after buying an additional 8,115 shares during the last quarter. Northwest Wealth Management LLC boosted its position in PepsiCo by 3.9% during the fourth quarter. Northwest Wealth Management LLC now owns 2,980 shares of the company’s stock valued at $506,000 after purchasing an additional 111 shares during the last quarter. Vista Investment Management grew its stake in PepsiCo by 7.1% in the fourth quarter. Vista Investment Management now owns 11,186 shares of the company’s stock valued at $1,900,000 after purchasing an additional 741 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of PepsiCo by 210.7% during the 4th quarter. Jacobi Capital Management LLC now owns 53,349 shares of the company’s stock worth $9,061,000 after purchasing an additional 36,176 shares in the last quarter. Finally, First Financial Bankshares Inc acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $66,011,000. Institutional investors and hedge funds own 73.07% of the company’s stock.
PepsiCo Stock Up 0.4 %
The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm’s 50 day moving average is $173.63 and its two-hundred day moving average is $172.06. The firm has a market capitalization of $235.32 billion, a P/E ratio of 24.84, a PEG ratio of 3.07 and a beta of 0.53.
About PepsiCo
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.
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