PepsiCo (NASDAQ:PEP) Trading 0.7% Higher – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s stock price traded up 0.7% during trading on Wednesday . The company traded as high as $151.83 and last traded at $151.34. 1,072,786 shares traded hands during trading, a decline of 84% from the average session volume of 6,551,753 shares. The stock had previously closed at $150.25.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEP shares. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Wells Fargo & Company reduced their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $176.73.

PepsiCo Stock Performance

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 stock’s 50 day moving average price is $153.35 and its 200 day moving average price is $164.97. The company has a market capitalization of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Institutional Trading of PepsiCo

Several large investors have recently modified their holdings of PEP. State Street Corp increased its holdings in shares of PepsiCo by 5.1% during 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 in the last quarter. Geode Capital Management LLC increased its stake in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after acquiring an additional 313,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.