PepsiCo (NASDAQ:PEP) Trading 0.4% Higher – What’s Next?

PepsiCo, Inc. (NASDAQ:PEP)’s share price traded up 0.4% during mid-day trading on Wednesday . The stock traded as high as $149.45 and last traded at $149.14. 1,005,832 shares were traded during trading, a decline of 85% from the average session volume of 6,659,940 shares. The stock had previously closed at $148.55.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced 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. Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $177.00.

PepsiCo Stock Up 0.3 %

The stock has a market capitalization of $204.59 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. The firm’s fifty day moving average is $154.07 and its 200-day moving average is $165.40. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

Several large investors have recently made changes to their positions in the company. Fred Alger Management LLC increased its holdings in shares of PepsiCo by 5.6% during the second quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock valued at $8,220,000 after purchasing an additional 2,651 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PepsiCo during the second quarter valued at $223,000. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares during the period. Elgethun Capital Management grew its holdings in PepsiCo by 0.9% during the second quarter. Elgethun Capital Management now owns 6,977 shares of the company’s stock worth $1,151,000 after acquiring an additional 63 shares during the period. Finally, Drucker Wealth 3.0 LLC acquired a new position in PepsiCo during the second quarter worth about $537,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.