PepsiCo (NASDAQ:PEP) Trading Up 0.4% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price rose 0.4% on Thursday . The stock traded as high as $165.62 and last traded at $165.40. Approximately 806,028 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 5,428,703 shares. The stock had previously closed at $164.74.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

The stock has a 50 day simple moving average of $170.82 and a two-hundred day simple moving average of $171.56. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Institutional Investors Weigh In On PepsiCo

Several large investors have recently modified their holdings of the company. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC lifted its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter valued at approximately $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Company Profile

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.