PepsiCo (NASDAQ:PEP) Stock Price Up 0.2% – Here’s What Happened

by · The Markets Daily

PepsiCo, Inc. (NASDAQ:PEP – Get Free Report)’s share price rose 0.2% on Wednesday . The company traded as high as $153.15 and last traded at $152.06. Approximately 4,274,157 shares were traded during trading, a decline of 23% from the average daily volume of 5,585,426 shares. The stock had previously closed at $151.72.

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $184.31.

View Our Latest Analysis on PEP

PepsiCo Stock Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $208.62 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The firm has a 50 day moving average price of $160.81 and a two-hundred day moving average price of $167.60.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the business earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Institutional Trading of PepsiCo

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares in the last quarter. State Street Corp boosted its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. Swedbank AB lifted its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Company Profile

(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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