PepsiCo (NASDAQ:PEP) Stock Price Up 1.5% After Analyst Upgrade

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) shares shot up 1.5% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $158.00 to $159.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. PepsiCo traded as high as $143.83 and last traded at $143.89. Approximately 1,066,803 shares traded hands during trading, a decline of 82% from the average session volume of 6,093,898 shares. The stock had previously closed at $141.73.

A number of other research analysts have also recently issued reports on the company. Evercore ISI decreased their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price objective for the company. BNP Paribas dropped their target price 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. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group cut their price objective on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average target price of $162.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PEP. Howard Capital Management Group LLC boosted its holdings in shares of PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company's stock worth $777,000 after acquiring an additional 90 shares during the period. Morse Asset Management Inc bought a new stake in PepsiCo in the 3rd quarter valued at $996,000. Invst LLC grew its holdings in PepsiCo by 4.6% in the 3rd quarter. Invst LLC now owns 3,003 shares of the company's stock valued at $511,000 after buying an additional 133 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of PepsiCo during the third quarter worth $1,611,000. Finally, Te Ahumairangi Investment Management Ltd boosted its position in shares of PepsiCo by 3.4% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 16,624 shares of the company's stock valued at $2,811,000 after acquiring an additional 550 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company's 50 day moving average is $147.70 and its 200 day moving average is $153.92. The firm has a market capitalization of $182.91 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.04). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

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.