PepsiCo (NASDAQ:PEP) Shares Up 0.1% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s share price was up 0.1% on Friday . The stock traded as high as $175.00 and last traded at $174.78. Approximately 1,088,946 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 5,472,859 shares. The stock had previously closed at $174.67.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The stock has a 50-day simple moving average of $173.73 and a 200 day simple moving average of $172.12. The stock has a market capitalization of $240.64 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

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

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio is 78.66%.

Institutional Investors Weigh In On PepsiCo

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its holdings in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently 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.