PepsiCo (NASDAQ:PEP) Shares Up 0.6% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price traded up 0.6% during trading on Tuesday . The stock traded as high as $152.21 and last traded at $152.17. 792,142 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,585,567 shares. The stock had previously closed at $151.29.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price objective 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. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $184.31.

PepsiCo Trading Up 1.0 %

The company has a market cap of $209.65 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business has a 50 day simple moving average of $163.50 and a two-hundred day simple moving average of $168.15.

PepsiCo (NASDAQ:PEP) last released its earnings results 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 net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.55%. PepsiCo’s dividend payout ratio is presently 79.94%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Opes Wealth Management LLC boosted its stake in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Oxbow Advisors LLC boosted its holdings in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the period. Cross Staff Investments Inc grew its position in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares during the last quarter. Finally, Paulson Wealth Management Inc. lifted its holdings in PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other 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.