PepsiCo, Inc. (NASDAQ:PEP - Get Free Report)'s stock price was up 6.6% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $145.32 and last traded at $144.25. Approximately 11,350,316 shares traded hands during trading, an increase of 59% from the average daily volume of 7,147,800 shares. The stock had previously closed at $135.35.
The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The business's quarterly revenue was up 1.0% on a year-over-year basis.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is presently 83.68%.
Analysts Set New Price Targets
PEP has been the subject of several research reports. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Citigroup increased their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $159.50.
Read Our Latest Research Report on PEP
Institutional Trading of PepsiCo
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Nuveen LLC bought a new stake in shares of PepsiCo in the first quarter valued at approximately $946,978,000. GAMMA Investing LLC boosted its stake in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after buying an additional 4,564,723 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of PepsiCo in the second quarter valued at approximately $460,110,000. Finally, Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after buying an additional 1,809,391 shares in the last quarter. Institutional investors own 73.07% of the company's stock.
PepsiCo Stock Down 1.5%
The firm's 50-day moving average price is $131.97 and its 200 day moving average price is $141.24. The company has a market capitalization of $196.39 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 4.23 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.
About PepsiCo
(
Get Free Report)
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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