PepsiCo (NASDAQ:PEP) Trading Up 1.4% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s stock price rose 1.4% during mid-day trading on Monday . The company traded as high as $156.32 and last traded at $155.63. Approximately 2,232,058 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 6,850,592 shares. The stock had previously closed at $153.50.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. BNP Paribas decreased their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

The firm has a market capitalization of $210.88 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 3.09 and a beta of 0.54. The stock’s fifty day moving average is $148.66 and its two-hundred day moving average is $162.11. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.52%. PepsiCo’s dividend payout ratio is currently 77.99%.

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Norges Bank bought a new position in shares of PepsiCo in the 4th quarter worth $2,729,565,000. Raymond James Financial Inc. purchased a new position in PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 18.1% during the fourth 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. State Street Corp lifted its stake in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in 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 purchasing an additional 2,264,445 shares during the period. 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.