PepsiCo (NASDAQ:PEP) Trading 0.2% Higher – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) rose 0.2% during trading on Thursday . The company traded as high as $152.39 and last traded at $151.78. Approximately 2,110,366 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 6,989,848 shares. The stock had previously closed at $151.51.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. BNP Paribas cut their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Citigroup dropped their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a fifty day moving average of $148.56 and a 200-day moving average of $161.80. The stock has a market capitalization of $208.50 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 3.09 and a beta of 0.54.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.57%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Hedge Funds Weigh In On PepsiCo

Institutional investors have recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc. lifted its holdings in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc grew its stake in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares during the period. Demars Financial Group LLC lifted its holdings in shares of PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the period. Tcfg Wealth Management LLC boosted its holdings in shares of PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after purchasing an additional 66 shares during the last quarter. Finally, BIP Wealth LLC grew its stake in shares of PepsiCo by 1.9% during the 3rd quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock valued at $612,000 after buying an additional 67 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.