PepsiCo (NASDAQ:PEP) Trading 0.3% Higher - Here's Why

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) shares shot up 0.3% on Wednesday . The company traded as high as $136.18 and last traded at $134.78. 2,061,737 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 6,161,386 shares. The stock had previously closed at $134.31.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. BNP Paribas decreased 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. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price objective on the stock. HSBC cut their target price on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price objective on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $160.69.

PepsiCo Stock Performance

The stock has a fifty day moving average of $147.16 and a 200-day moving average of $153.24. 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 stock has a market capitalization of $185.77 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio is currently 79.71%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds have recently made changes to their positions in PEP. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Geode Capital Management LLC increased its stake in PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after buying an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Norges Bank acquired a new stake in shares of PepsiCo in the 4th quarter worth $2,729,565,000. Finally, Northern Trust Corp boosted its holdings in shares of PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

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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