PepsiCo (NASDAQ:PEP) Stock Price Up 1.1% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP) shares traded up 1.1% during trading on Friday . The stock traded as high as $148.62 and last traded at $148.10. 2,377,768 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 6,620,884 shares. The stock had previously closed at $146.54.

Analyst Ratings Changes

PEP has been the subject of a number of research analyst reports. Barclays cut their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Price Performance

The company’s 50 day moving average price is $156.06 and its 200 day moving average price is $166.05. 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 cap of $202.73 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.67%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings 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 acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc lifted its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Franklin Resources Inc. boosted its holdings 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 buying an additional 2,264,445 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

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.