PepsiCo (NASDAQ:PEP) Shares Up 0.2% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s share price traded up 0.2% during trading on Thursday . The company traded as high as $145.23 and last traded at $145.01. 868,300 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,659,399 shares. The stock had previously closed at $144.78.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Finally, Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Performance

The stock has a 50 day moving average price of $156.46 and a two-hundred day moving average price of $166.20. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $200.58 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.71%. PepsiCo’s payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently made changes to their positions in PEP. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. increased its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.