Short Interest in PepsiCo, Inc. (NASDAQ:PEP) Grows By 25.7%

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PepsiCo, Inc. (NASDAQ:PEP) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 11,090,000 shares, an increase of 25.7% from the April 30th total of 8,825,300 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 4,690,000 shares, the days-to-cover ratio is presently 2.4 days.

PepsiCo stock traded up $1.24 during trading hours on Thursday, reaching $134.09. The company had a trading volume of 1,706,582 shares, compared to its average volume of 3,962,022. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $187.21 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 3.43 and a beta of 0.62. PepsiCo has a 12-month low of $104.53 and a 12-month high of $134.71.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The business had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts expect that PepsiCo will post 5.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.955 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, June 6th. PepsiCo’s payout ratio is 67.49%.

A number of analysts have recently issued reports on PEP shares. BidaskClub upgraded PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Macquarie raised their price objective on PepsiCo from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Royal Bank of Canada reissued a “neutral” rating and set a $115.00 price objective on shares of PepsiCo in a report on Thursday, April 18th. Finally, SunTrust Banks raised their price objective on PepsiCo to $120.00 and gave the company a “hold” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.65.

In other news, SVP Marie T. Gallagher sold 7,800 shares of PepsiCo stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $125.99, for a total transaction of $982,722.00. Following the completion of the sale, the senior vice president now owns 55,665 shares in the company, valued at approximately $7,013,233.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Yawman sold 25,263 shares of PepsiCo stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the sale, the executive vice president now owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,494 shares of company stock valued at $6,173,705. 0.28% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PEP. Highwater Wealth Management LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Horan Securities Inc. boosted its position in shares of PepsiCo by 460.0% during the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $39,000. Financial Gravity Companies Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $41,000. Finally, Sound Income Strategies LLC boosted its position in shares of PepsiCo by 50.8% during the fourth quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares in the last quarter. 70.84% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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